Morten Co., which uses the double-declining-balance method of depreciation, purchased a new machine on January 1, 2018. The machine cost $160,000, had an estimated useful life of 8 years and $20,000 residual value at the end of its useful life. What is the depreciation expense for 2018? Multiple Choice O $40,000 O $30,000 O $10,000 O $20,000