A company purchased new furniture at a cost of $19,000 on January 1 . The furniture is estimated to have a useful Ife of 5 years and a salvage value of $2,500. The company uses the straight-IIne method of depreclation. How much depreclation expense will be recorded for the furniture for the first year ended December 31 ? Multiple Choice $1,075 $825 $3,300 $950 $3,850