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Crane Company purchased equipment for $801000 on January 1, 2026, and will use the double-declining-balance method of depreciation. It is estimated that the equipment

Crane Company purchased equipment for $801000 on January 1, 2026, and will use the double-declining-balance method of depreciation. It is estimated that the equipment will have a 3-year life and a $32000 salvage value at the end of its useful life. The amount of depreciation expense recognized in the year 2028 will be $65880. $89000. $57000. $97880.

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