Lacey Corp. purchased factory equipment that was installed and put into service on January 1, 2020, at a total cost of $55,000. Residual value was estimated to be $3,000. The equipment is being depreciated over four years using the double-declining balance method. For the calendar year 2021, Lacey should record depreciation expense on this equipment of:

$13,000

$27,500

$52,000

$13,750