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. $37,500. b. $21,667. o C. $50,000. d. $39,063