Diamonds & Pearls Mining Company buys new drilling equipment for $800,000. This equipment is estimated to have a useful life of 15 years and a salvage value of $50,000. Diamonds & Pearls expects this equipment to be able to drill through 600,000 feet of rock. The equipment was purchased on January 1, 2018, and the companys fiscal year end is December 31st.

Using the double-declining balance method, what is the depreciation expense for 2018? (Round your answer to the nearest dollar).

Question 19 options:

	$53,333
	$106,667
	$50,000
	$100,000