Question 11 of 17 < > View Policies Current Attempt in Progress -/5 1 A company purchased factory equipment for $680000. It is estimated that the equipment will have a $60000 salvage value at the end of its estimated 5-year useful life. If the company uses the double-declining-balance method of depreciation, the amount of annual depreciation recorded for the second year after purchase would be $272000. O $116160. O $248000. O $163200. Save for Later Attempts: 0 of 1 used Submit Answer