Turtle Co. purchased equipment on January 2, Year 1, for $50,000. The equipment had an estimated 5-year service life. Turtle's policy for 5-year assets is to use the 200% double-declining-balance depreciation method for the first 2 years of the asset's life, and then switch to the straight-line depreciation method. In its December 31, Year 3, balance sheet, what amount should Turtle report as accumulated depreciation for equipment?

$30,000

$39,200

$38,000

$42,000