The Fluffy Coin Laundry purchased new dryers for $112,000. Freight charges were $640, and installation amounted to $1,200. The dryers are expected to last 5 years and have a residual value of $4,000. The laundry elects to use the double-declining method of depreciation. What is the depreciation for year 2? (Round to the nearest dollar)

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The Answer of The Fluffy Coin Laundry purchased new dryers for $112,000. Freight charges were $640, and installation amounted to $1,200. The dryers are expected to last 5 years and have a residual value of $4,000. The laundry elects to use the double-declining method of depreciation. What is the depreciation for year 2? (Round to the nearest dollar)

The Fluffy Coin Laundry Purchased New Dryers for $112,000