On January 1,2015,li Company Purchased an Asset That Cost $80,000.the

Question 71
Multiple Choice

On January 1,2015,Li Company purchased an asset that cost $80,000.The asset had an expected useful life of five years and an estimated salvage value of $16,000.Li uses the straight-line method for the recognition of depreciation expense.At the beginning of the fourth year of usage,the company revised its estimated salvage value to $8,000.Based on this information,the amount of depreciation expense to be recognized at the end of 2018 is: A)$12,800. B)$16,800. C)$33,600. D)$20,800.