On January 2,2023, Bublik Corporation acquired equipment for $80,000. The estimated life of the equipment is 4 years. The estimated residual value is $7000. What is the amount of depreciation expense for 2024, if the company uses the double-declining-balance method of depreciation? (Round intermediary calculations to two decimal places and your final answer to the nearest dollar.) $18,250 $36,500 $40,000 $20,000