Kansas Enterprises purchased equipment for $72,500 on January 1, 2024. The equipment is expected to have a ten-year life, with a residual value of $7,800 at the end of ten years. Using the double-declining balance method, the book value at December 31, 2025, would be: (Do not round your intermediate calculations)

Multiple Choice

$7,250.

$44,880.

$46,400.

$42,480.