Q3: A company purchased factory equipment on January 1, 2001 for 520,000. It is estimated that the equipment will have a 40,000 residual value at the end of its 20-year useful life. Using the double-declining-balance method of depreciation, the amount to be recorded as depreciation expense at December 31, 2019 is .............. (Difficulty: Hard, 3 minutes). Calculations