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 $7,950 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 $62,880. $60,480. $46,400. $7,250