On January 1, 2020, a company purchased factory equipment for $174,000. It is estimated that the equipment will have a $12,475 salvage value at the end of its estimated 5-year useful life and is expected to be used for 65.000 hours. The hourly usage by year is: 2020 2021 2022 17.000 16,000 15,000 9,000 8,000 2023 2024 Assume that the company uses the double-declining-balance method of depreciation. What amount of depreciation expense would be recorded for the fiscal year ending December 31, 2021