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On July 1, an industrial machine was purchased for $52,000 with a useful life of eight years and a residual value of $4,000. What is the depreciation expense in the year of purchase under the straight-line method, assuming a December 31 year-end? O a. b. $6,500 O b.a. $3,500 O c. d. $3,000 O d.c. $6,000 Current liabilities are O a. b. due but not payable for more than one year O b. a. due but not receivable for more than one year c. d. due and payable within one year O d.c. due and receivable within one year