16:11 MC Qu. 12-38 (Static) On January 1, 20X1, a... On January 1, 20X1, a firm purchased machinery for $28,000. Depreciation expense for the year ending December 31, 20X, given the straight-line method, a 10-year useful life, and a salvage value of $3,000, is w Multiple Choice $2,800 $3,000. O $2,500 $1,250 < Prev 4 of 36 Next >