Waterway Company purchased a piece of equipment on January 1, 2020. The equipment cost $256000 and had an estimated life of 8 years and a salvage value of $27000. What was the depreciation expense for the asset for 2021 under the double-declining-balance method? $48000. $49563. $64000. $32167.

Waterway Company purchased a piece of equipment on January 1,2020. The equipment cost $256000 and had an estimated life of 8 years and a salvage value of $27000. What was the depreciation expense for the asset for 2021 under the double-declining-balance method? $48000. $49563. $64000. $32167