Damon Hair Stylists' adjusted trial balance follows. Prepare Damon's income statement for the year ended December 31, 2024 (Click on the icon to view the adjusted trial balance.) Data table Damon Hair Stylists Adjusted Trial Balance Damon Hair Stylists December 31, 2024 Income Statement Balance Debit Credit Year Ended December 31, 2024 Account Title Cash $ 600 Accounts Receivable 1,800 Office Supplies 1.300 20.100 S 1,700 100 Equipment Accumulated Depreciation-Equipment Accounts Payable Interest Payable Notes Payable 800 3.400 Common Stock 14,000 Net Income (Loss) Dividends 900 Service Revenue 14,300 Rent Expense 5.100 The cost of an asset is $1,070,000, and its residual value is $230,000. Estimated useful life of the asset is eight years Calculate depreciation for the second year using the double - declining - balance method of depreciation. OA. $133,750 O B. $200,625 O C. $105,000 D. $210,000