South Company purchased a truck that was placed in service on January 1, 2021. The company paid $18,000 for the truck, plus $2,000 transportation costs. The truck is being depreciated over 5 years using the double-declining-balance method. The trucks estimated salvage value is $1,000. How much depreciation should South report in its December 31, 2022, financial statements?

Group of answer choices

$4,560

$8,000

$4,800

$7,600

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