On January 2, 2019, Konan Corporation acquired equipment for $900,000. The estimated life of the equipment is 5 years or 100,000 hours. The estimated residual value is $20,000. What is the balance in Accumulated Depreciation on December 31, 2020, if Konan Corporation uses the double-declining-balance method of depreciation? (Round any intermediary calculations to two decimal places and your final answer to the nearest dollar.)