Factory equipment is purchased on January 1, 2020, for $100,000. It is expected to have a useful life of ten years and a residual value of $10,000. The company closes its books on December 31. Under the double-declining balance method, what is the total amount of depreciation to be expensed during the 2021? Multiple Choice $80,000 $20,000 $16,000 $30,000