A truck was purchased for $$15,000,$ and it was estimated to have a $$3,000$ residual value at the end of its useful life. Monthly depreciation expense of $$250$ was recorded using the straight$-$line method. The annual depreciation rate is

Select one:

A$.$

$2\%.$

B$.$

$25\%.$

C$.$

$20\%.$

D$.$

$8\%.$