On the first day of its fiscal year, Solstice Company purchased a new computer system for a total cost of $60,000. The computer system is expected to have a life of 10 years with a residual value of $6,500. If the company uses the double-declining-balance method, is depreciation expense for this computer system in the first year will be A $6,000 B. $10,700 OC $5,350 OD $12.000