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Oriole Company purchased equipment for $990000 on January 1, 2020, and will use the double-declining-balance method of depreciation. It is estimated that the equipment will

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Oriole Company purchased equipment for $990000 on January 1, 2020, and will use the double-declining-balance method of depreciation. It is estimated that the equipment will have a 3-year life and a $50000 salvage value at the end of its useful life. The amount of depreciation expense recognized in the year 2022 will be $110000. $118880 $60000. $68880

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