Krause Corporation purchased factory equipment that was installed and put into service January 2, 2014, at a total cost of $60,000. Residual value was estimated at $4,000. The equipment is being depreciated over four years using the double-declining balance method. For the year 2015, Krause should record depreciation expense on this equipment of Select one: a. $14,000. b. $28,000. c. $15,000. d. $30,000