Kansas Enterprises purchased equipment for $80,000 on January 1, 2021. The equipment is expected to have a five-year life, with a residual value of $6,150 at the end of five years. Using the double-declining balance method, the book value at December 31, 2022, would be: (Do not round your intermediate calculations) Multiple Choice $28,800. $16,000. $22,880 $25,280