A company purchased a new delivery van at a cost of $46,000 on July 1. The delivery van is estimated to have a useful life of 4 years and a salvage value of $3400. 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. $10,650.
B. $4940.
C. $5325.
D. $4250.
E. $5750.
Answer: C
Business
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