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A machine with a cost of $32,000, an estimated useful life of five years, and an expected salvage value of $2,000 was placed in service
A machine with a cost of $32,000, an estimated useful life of five years, and an expected salvage value of $2,000 was placed in service on January 2, 2016. It was depreciated using the straight-line method. On January 2, 2019, the machine was completely overhauled at a cost of $6,000. It is now estimated that the machine will last four years from that point and that it will have no salvage value at the end of that life. The depreciation to be recorded on the machine in 2019 is:
A)$2,000
B)$3,333
C)$3,500
D)$5,000
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