Kansas Enterprises purchased equipment for $78,500 on January 1, 2018. The equipment is expected to have a five-year life, with a residual value of $8,850 at the end of five years. Using the double-declining balance method, the book value at December 31, 2019 would be (Do not round your intermediate calculations): $32,740. $28,260. $30,340. $15,700