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IE Gary Kraen Company purchased equipment on May 1, 2023 for $500.000. The residual value a $25,000 and the estimated used life is 10

IE Gary Kraen Company purchased equipment on May 1, 2023 for $500.000. The residual value a $25,000 and the estimated used life is 10 years. What is the Depreciation Expense for the year ending December 31, 2024, if the company uses the double-declining balance method? (Round your final answer to the nearest dollar) OA $47.000 OB $86.667 OC. $50,000 OD. $66,667

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