Ponderosa Farms purchased some equipment on January 1, 2020 for $12,600. The equipment has an estimated useful life of 10 years and an estimated residual value of $1,200. The company uses double-declining-balance depreciation. Depreciation expense for 2020 would be:

1) $1,140.

2) $1,260.

3) $2,280.

4) $2,520.