Genesis 7. Products purchased a machine for $75,000 on January 1, 2017 and started using it on the same day. The fiscal year ends on December 31 every year. The company depreciates the machine over 20 year estimated useful life using the double-declining balance method. Salvage value is estimated to be $3,000 Depreciation expense for the fiscal year ended December 31, 2018 is a. $7,200 b. $6,750 c. $7,500 d. $6,480