Kansas Enterprises purchased equipment for $75,500 on January 1, 2021. The equipment is expected to have a five-year service life, with a residual value of $8,400 at the end of five years. Using the double-declining balance method, depreciation expense for 2022 would be: (Do not round your intermediate calculations) Multiple Choice $30,200. $16,104. $26,840. $18,120