Question 45 (3 points) Badger Company recently purchased equipment for $304,000 on January 1, 2020. It is estimated that the equipment will have a useful life of 8 years, and a salvage value of $16,000. Estimated production is 40,000 units. During 2020, the equipment was used to produce 1,000 units. What is depreciation expense for Badger Co. in 2021 if they use the double declining balance method? $54,000 $72,000 $76,000 $57,000