On January 1, Year 1, Phillips Company made a basket purchase including land, a building and equipment for $920,000. The appraised values of the assets are $66,000 for the land. $940,000 for the building and $184,000 for equipment. Phillips uses the double-declining-balance method of depreciation for the equipment which is estimated to have a useful life of four years and a salvage value of $10,000. The depreciation expense for Year 1 for the equipment is: (Round your intermediate percentages to 2 decimal places: ie .054231 = 5.42%.)