Question 23 Cassidy Corporation purchased factory equipment that was installed and put into service on January 2, 2019, at a total cost of $55,000. Residual value was estimated at $3,000. The equipment is being depreciated over four years using the double-declining-balance method. For the calendar year 2020, Cassidy should record depreciation expense on this equipment of O $27,500. $52,000. $13,750. $13,000. O