A fixed asset has a cost of $12,000 and a salvage value of $3,000. The asset has a three-year life. If depreciation in the third year amounted to $1,500, which depreciation method was used? A. Straight-line. B. Double-declining-balance. C. Units of production. D. Sum-of-the-years-digits. OB OD Clarksten Co. and Kay Inc. exchange equipment. Information related to this exchange for both companies follows. Clarksten Co. Kay Inc. Equipment given up: Equipment (original cost) Accumulated depreciation Fair value Cash exchanged $45,000 25.000 18,000 $35,000 20,000 20,000 4,000 (4,000) Assuming that the exchange has commercial substance, Clarksten Co. should record the new equipment at O $18,000. $22.000. O $14.000 $20,000