On January 1, a company purchased equipment for $140,000. The equipment's useful life is estimated to be 5 years with a $ 30,000 salvage value. What would be the depreciation expense for the first year of its useful life using the double-declining balance method? Multiple Choice $ 28,000. $ 34,000. $56,000. $ 22,000. $44,000.

expense for the finst yeac of its usefid Ve using the double declining bolence method? Miripe Chace $28,000 $34,000 556,000 $22000 544,000