The Poseidon Resort plans to transport guests to its underwater facility in a submarine. The sub costs $800,000, has a salvage value of $50,000, and has an estimated useful life of 80,000 hours, or 5 years use. During the first year of the subs operation, it was used for 16,000 hours. Using the double declining balance method of depreciation, calculate the subs depreciation for the first year.

Group of answer choices

a) $20,000.

b) $160,000.

c) $200,000.

d) $300,000.

e) $320,000.