A machine was purchased for $54,000 and it was estimated to have a $5,000 salvage value at the end of its useful life. Annual depreciation expense of $7,000 was recorded using the straight- line method. The annual depreciation rate is: A. 14.3% per year. OB. 1.4% per year. OC.13.0% per year. OD.9.3% per year