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)3. JME acquired a depreciable asset on January 1, 2014, for $60,000 cash. At that time JME estimated the asset would last 10 years and

)3. JME acquired a depreciable asset on January 1, 2014, for $60,000 cash. At that time JME estimated the asset would last 10 years and have a salvage value of $5,000. During 2016, JME estimated the useful life of the asset to be only seven years with a salvage value of $4,000. If JME uses straight-line depreciation, what is the depreciation for 2016? A. $5,500 B. $8,000 C. $9,000 D. $15,000

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