Swallow Ltd. takes a full year's depreciation expense in the year of an asset's acquisition and no depreciation expense in the year of disposition. Data relating to one of Swallow's pieces of equipment at December 31, 2019, are as follows: Acquisition year 2017 Cost $280,000 Residual value 40,000 Accumulated depreciation 219,520 Estimated useful life 5 years Using the same depreciation method that was used in 2017, 2018, and 2019, how much depreciation expense should be recorded in 2020 for this asset? $60,480 $48,000 O $32,000 O $20,480