On August 1, 2019, Bustard, inc. purchased equipment for $8,425,700. The salvage value of the equipment is estimated to be $1,011,000 and the management team believes that the equipment can be used for 6 years. Assuming the company uses the double declining balance method and follows FASB's preferences for recording partial year depreciation, what should the company record as depreciation expense in 2020? Group of answer choices $4,836,976 $2,418,488 $1,170,236 $6,007,212