19 Not yet and Panton A company buys an oil rig for $5,000,000 on January 1, 2020. The life of the rig is 10 years with no salvage value and the expected cost to dismantle the rig at the end of 10 years is $1,000,000 (present value at 10% is $385,550). 10% is an appropriate interest rate for this company. What expense should be recorded for 2020 as a result of these events? Select one: a. Depreciation expense of $600,000 b. Depreciation expense of $500,000 and interest expense of $38,555 Oc. Depreciation expense of $500,000 and interest expense of $100,000 d. Depreciation expense of $538,555 and interest expense of $38,555