$4,246.73 16. Equipment was purchased on April 1, 2014 at a total cost of $20,000. The residual value of the equipment was estimated to be $1,000. The useful life was 8 years. Straight-line method, with half-year convention, is used. What is depreciation expense for the year of 2022? * (5 Puan) $2,375 $1.187.5 $2,500 $1,250 17. Equipment was purchased on October 1, 2014 at a total cost of $20,000. The residual value of the equipment was estimated to be $1,000. The useful life was 8 years. whole month