A company purchased a plant asset for $53,000. It has a salvage value of $3,000 and annual depreciation expense of $5,000. It calculates depreciation using the straight-line method. The balance of the company's Accumulated Depreciation account at the end of the current year after- adjusting entries is $15,000. What is the asset's remaining useful life? O 8 years O 7 years 0 4 years O 5 years O 10 years