On the first day of its fiscal year, Amplify Company purchased a new computer system for a total cost of $70,000. The computer system is expected to have a life of 10 years with a residual value of $7,500. If the company uses the double-declining-balance method, its depreciation expense for this computer system in the first year will be O A. $6,250 OB. $12,500 OC. $7,000 OD. $14,000