A company purchased a delivery van for $24,800 with a salvage value of $3,300 on September 1, Year 1. It has an estimated useful life of 5 years. Using the straight-line method, how much depreciation expense should the company recognize on December 31, Year 1?

Multiple Choice

• $1,433.

• $4,300.

• $4,960.

• $1,075.

• $1,653.