Thompson Corp., a calendar year-end company, purchased equipment on 1/1/X1 with the following attributes: Description Amount Cost $ 25,000 Salvage Value $ 2,300 Useful life 4 years Question: Assuming that Thompson uses the double-declining balance (DDB) depreciation method, how much depreciation expense should be recorded in 20X4 (year four of the asset's life)? Do not include decimals or cents in the numerical response. Answer: $Answer 1 Question 16