2 points On October 1, 2012, Holt Company places a new asset into service. The cost of the asset is $80,000 with an estimated 5-year life and $20,000 salvage value at the end of its useful life. What is the depreciation expense for 2012 if Holt Company uses the straight-line method of depreciation? $4,000 O $3,000 O $8,000 O $16,000