A company purchased a new delivery van at a cost of $60,000 on July 1. The delivery van is estimated to have a useful life of 6 years and a salvage value of $4800. The company uses the straight-line method of depreciation. How much depreciation expense will be recorded for the van during the first year ended December 31?
A. $4600.
B. $9200.
C. $5000.
D. $5600.
E. $6480.
Answer: A
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