A company purchased a new delivery van at a cost of $45,000 on July 1. The delivery van is estimated to have a useful life of 6 years and a salvage value of $3,000. 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. $4,000.
B. $3,500.
C. $7,000.
D. $3,250.
E. $6,500.
Answer: B
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