Newman Company purchased $CNC$ router cutting and engraving

machinery at a cost of $$320,000$ in January $2022.$ The company's

estimated useful life of this high$-$tech equipment is $5$ years, and the

estimated salvage value is $$48,000.$ using declining balance

depreciation at twice the straight line rate, the depreciation expense to

be recognized for $2023,$ the second year of the machinery's life would

be: The answer is $$76,800$ but im not sure why??