Kingston Company purchased a piece of equipment on January 1, 2010. The equipment cost $80,000 and had an estimated life of 8 years and a salvage value of $10,000. What was the depreciation expense for the asset for 2011 under the double-declining-balance method?

Question 3 options:

1)

$8,749.

2)

$8,667.

3)

$20,000.

4)

$15,000.