Foyle Company Purchased a New Van for Floral Deliveries on January

Multiple Choice

Foyle Company purchased a new van for floral deliveries on January 1, 2017. The van cost $56,000 with an estimated life of 5 years and $14,000 salvage value at the end of its useful life. The double-declining-balance method of depreciation will be used. What is the depreciation expense for 2017?

A) $11,200.
B) $8,400.
C) $16,800.
D) $22,400.