Kansas Enterpilises purchased equipment for $78,500 on January 1, 2024. The equipment is expected to have a five-year service lifo, with a residual value of $7,200 at the end of five years. Using the double-dectining balance method, depreciation expense for 2024 would be. (Do not round your intermediate calculations) Murple Croce $24,200 $1500 $28,520 $31,400