A company purchased factory equipment on June 1, 2017, for $160,000. It is estimated that the equipment will have a $10,000 salvage value at the end of its 10-year useful life. Using the straight-line method of depreciation, the amount to be recorded as depreciation expense at December 31, 2017, is Select one: a. $8,750. b. $15,000 c. $7,500 d. $6,250