A company purchased a new delivery van at a cost of $60,000 on July 1. The delivery van is estimated to have a useful life of 6 years and a salvage value of $4800. 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?

a. $5,000

b. $6,480

c. $4,600

d. $9,200

e. $5,600