Victory Company purchases office equipment at the beginning of the year at a cost of $15,000. The machine is depreciated using the straight-line method. The machine's useful life is estimated to be 7 years with a $1,000 salvage value. The book value at the end of 7 years is:
A. $0.
B. $2,143.
C. $1,000.
D. $14,000.
E. $2,000.
Answer: C
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