26 ABC Corp. purchased a building on April 1, 2020, that was put on the books at $500,000. The building is expected to be used for 25 years and at the end of the 25 years will be sold for an estimated selling price of $100,000. ABC closes its books at the end of every calendar year. ABC Corp. uses the straight-line method of depreciation. Based on this information, which of the following is correct? 8 01:20:51 Multiple Choice Depreciation Expense at 12/31/20 is $ 16,000. Accumulated Depreciation at 12/31/21 is $ 28,000 Depreciation Expense at 12/31/2021 is $12,000 Accumulated Depreciation at 12/31/20 is $16,000