A company purchased a new delivery van at a cost of $50,000 on July 1. The delivery van is estimated to have a useful life of 5 years and a salvage value of $3,800. The company uses the straight-line method of depreciation. How much depreciation expense will be recorded for the van during the first year ended December 31?

IT HAS TO BE ONE OF THESE MULTIPLE CHOICES.

Multiple Choice

• $5,380.
• $9,240.
• $5,000.
• 4,620
• 4,560.