Kingston Company purchased a piece of equipment on January 1, 2016. The equipment cost $200,000 and had an estimated life of 8 years and a salvage value of $25,000. What was the depreciation expense for the asset for 2017 under the double-declining-balance method? Select one: a. $39,063. b. $37,500. c C. $21,667. c d. $50,000