A company paid \(\$ 450,000\) for a building and depreciated it by the straight-line method over a 40 -year life with estimated residual value of \(\$ 50,000\). After 10 years, it became evident that the building's remaining useful life would be 40 years. Depreciation for the eleventh ycar is (p.419)

a. \(\$ 7,500\)

b. \(\$ 8,750\)

c. \(\$ 10,000\)

d. \(\$ 12,500\)