QUESTION 8 (5 points) Turaco Co. purchased PPE on January 1, 2019 for $16,739,000. The production teams estimates that the asset will be used for 5 years, after which it can be sold for $1,841,000. Based on these estimates, what is the depreciation expense in 2020 on this asset if the company uses the double declining balance method for calculating depreciation? (A 28) $6,695,600 $4,017,360 $2,979,600 There is not enough information to answer this