On January 1, 2016, a company purchased a machine for $138,000 with an expected life of 5 years and a residual value of $12,000. In addition, the company paid delivery costs of $1,200 and $4,800 to have the machine installed. The company uses the double-declining-balance method of depreciation.

Use the information above to answer the following question. What is the depreciation expense for the first year using the double-declining-balance method?

a. $52,800

b. $57,600

c. $53,000

d. $55,200