3 3.5 points Kansas Enterprises purchased equipment for $77,000 on January 1, 2021. The equipment is expected to have a five-year service life, with a residual value of $7,500 at the end of five years. Using the straight-line method, depreciation expense for 2021 would be: Multiple Choice 04:56:00 $13,900. $16,900. $30,800. $15,400