On October 1, 2022, Ming Wo Ltd.places a new asset into service.The cost of the asset is $16,000 with an estimated 5-year life and $4,000 residual value.If Ming Wo uses straight-line depreciation, the depreciation expense for the year ended January 31, 2023 is
A)$ 600.
B)$ 800.
C)$1,067.
D)$2,400.

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The Answer of On October 1, 2022, Ming Wo Ltd.places a new asset into service.The cost of the asset is $16,000 with an estimated 5-year life and $4,000 residual value.If Ming Wo uses straight-line depreciation, the depreciation expense for the year ended January 31, 2023 is
A)$ 600.
B)$ 800.
C)$1,067.
D)$2,400.