Suppose the company purchases the following asset:

Cost = $20,000 ($18,000 + $2,000 for shipping and install)

Residual value = $5,000 (estimated selling price in 5 years).

Expected useful life = 5 years

What is the depreciation expense in year 3? Assume Double-Declining Balance

$2,880

$2,200

$4,800

$3,000