A business purchased an asset that had a total cost of 125,000 and a residual value of 5,000. The asset is expected to service the business for a period of 5 years or produce a total of 500,000 units. The machine was purchased on January 1st of the current year and has been in service one complete year What is the amount of depreciation in year two of the assets life using the straight line method? a. 28,000 b. 20,000 c. 25,000 d. 24,000