On January 2, 2019, Kornis Corporation acquired
equipment for$ 1,100,000
$1,100,000. The estimated life of the equipment is 5 years or
90,000 hours. The estimated residual value is
$20,000. What is the balance in Accumulated Depreciation on December 31, 2019, if Kornis Corporation uses the double-declining method
−balance method of depreciation?