On January 1, 2019, Laura Corp. purchased equipment for $50,000. It was expected to last 8 years, after which it will be sold for $8,000. What will be the carrying value of the equipment on December 31, 2020, assuming the company uses the Double- Declining balance depreciation method? 1) $31.625.00 2) $21,875.00 3) $21,600.00 4) $28,125.00