Kansas Enterprises purchased equipment for $77,000 on January 1, 2021. The equipment is expected to have a ten-year life, with a residual value of $7,200 at the end of ten years. Using the double-declining balance method, the book value at December 31, 2022, would be: (Do not round your intermediate calculations) 8 01:20:21 Multiple Choice 0 $49,280. 0 $49,760. 0 $47,360. 0 $7,700