The cost of an asset is $1,200,000, and its residual value is $180,000. Estimated useful life of the asset is eight years. Calculate depreciation for the first year using the double-declining-balance method of depreciation. (Do not round any intermediate calculations, and round your final answer to the nearest dollar.) A. $150,000 B. $255,000 O c. $127.500 O D. $300,000