Monster, Inc. purchased a crane at a cost of $80,000 on January 1, 2017. The crane has an estimated residual value of $5,000 and an estimated life of 8 years, or 12,500 hours of operation. The crane was used 2.700 hours in 2017 and 2.600 hours in 2018. If Monster uses the double-declining-balance depreciation method, what amount is the depreciation expense for 2018? $20,000 $14,063 $8,750 $15,000