On January 1, 2015, ABC Corporation acquired equipment for $260,000. The estimated life of the equipment is 5 years or 40,000 hours. The estimated salvage value is $20,000. What is the balance in Accumulated Depreciation on December 31, 2016 after two years of recording depreciation expense if ABC Corporation uses the declining-balance method of depreciation?

A. $62,400

B. $166,400

C. $96,000

D. $104,000