A company purchased factory equipment for $350,000 at the beginning of the year. It is estimated that the equipment will have a $35,000 salvage value at the end of its estimated 5-year useful life. If the company uses the double-declining-balance method of depreciation, the amount of annual depreciation recorded for the second year after purchase would be Group of answer choices $140,000. $84,000. $126,000. $60,480.