On January 1, year 1, Laramy Corp. purchased equipment for $100,000. Laramy uses the double-declining-balance method of depreciation. The equipment has a useful life of 10 years with no residual value. In year 3, Laramy changes to the straight-line method of depreciation. What is the accumulated depreciation at the end of year 3?
a.) $44,000
b.) $24,000
c.) $37,700
d.) $46,000