On January 1, 2019, Prince Corporation acquired equipment for $100,000. The estimated life of the equipment is 10 years or 20,000 hours. The estimated residual value is $10,000. What is the balance in Accumulated Depreciation on December 31, 2019, if Prince Corporation uses the diminishing balance depreciation method at 1.5 times the straight-line rate? Select one: a. $15,000 b. $13,500 c. $9,000 d. $17,500