On July 2, 2013, Peak Power Corporation purchased machinery for $120,000. Salvage value was estimated to be $10,000. The machinery will be depreciated over ten years using the double-declining balance method. If depreciation is computed on the basis of the nearest full month, Peak Power should record depreciation expense on this machinery for 2014 of
a) $24,000
b) $12,000
c) $19,800
d) $21,600