The cost of an asset is $1,110,000, and its residual value is $240,000. Estimated useful life of the asset is ten years. Calculate depreciation for the first year using the doubledecliningbalance method of depreciation.(Do not round any intermediatecalculations, and round your final answer to the nearestdollar.)

A.

$174,000

B.

$87,000

C.

$111,000

D.

$222,000