This company purchased new excavating equipment at the beginning of 2021. The equipment has a cost of $37,000, an estimated life of 5 years, and an estimated residual value of $7,000. A full year's depreciation expense is to be recorded in 2021. The equipment was used for 20,000 hours during 2021 and 24,000 hours during 2022. The number of expected hours over 5 years is 100,000.

What is the amount by which the total double-declining-balance depreciation exceeds the total straight-line depreciation over the 5-year life of the equipment?

a. $-0-

b. $37,000

c. $6,000

d. $7,000