Sydney CO. purchased a machine that was installed and placed in service on January 1, 2019, at a cost of $480,000. Salvage value was estimated at $80,000. The machine is being depreciated over 10 years by the double-declining-balance method. For the year ended December 31, 2020, what amount should Sydney report as depreciation expense? O $64,000 O $61,440 0 $76,800 O $96,000