Norwood, Inc. Norwood, Inc.purchased a Crane at a Cost of $80,000.The Crane

Norwood, Inc.
Norwood, Inc.purchased a crane at a cost of $80,000.The crane has an estimated residual value of $5,000 and an estimated life of 8 years, or 12,500 hours of operation.The crane was purchased on January 1, 2015 and was used 2,700 hours in 2015 and 2,600 hours in 2016.
-Refer to the information about Norwood, Inc.
If Norwood uses the double-declining-balance depreciation method, what amount is the depreciation expense for 2016?

A) $14,063
B) $15,000
C) $18,750
D) $20,000