9. Equipment was purchased for $75,000. Freight charges amounted to $3,500 and there was a cost of $10,000 for building a foundation and installing the equipment. It is estimated that the equipment will have a $15,000 salvage value at the end of its 5-year useful life Depreciation expense each year using the straight-line method will be a. $17,700. b. $14,700. c. $12,300. d. $12,000