A company purchases a new truck on January 1, 2022 and pays cash. The cost of the truck is $41,000. The company expects that they will use the truck for 5 years and that at the end of 5 years, the truck will have a salvage value of $6,000.

After two years, the company now is expected to be used for TOTAL of 6 years and the salvage value after 6 years is estimated to be $2,000.

Assuming that the company uses the straight line method of depreciating the truck, what is the total depreciation expense for year 3 (i.e., 2024)?

Group of answer choices

$5,000

$4,000

$7,000

$6,000