Accounting I5) On 01 March 2016, SHOES AND SOCKS Led bought 02 vans and 03 flip flops fromBEACH Ltd by signing a 01 year 8% note payable for total liability. The vans cost$10,000 each and flip flops cost $15,000 each plus sales tax @ 15%. Company's policyis to depreciate vans over four years and flip flops over five years on straight line basis.Salvage value is $1,000 each for vans and $2,000 each for flip flops. What will be thetotal depreciation and interest expense of SHOES AND SOCKS Ltd for the year ended31 December 2016?O Depreciation: $14,400, Interest: $5,980O Depreciation: $16,100, Interest: $5,235Depreciation: $12,075, Interest: $3,900Depreciation: $10,800, Interest: $4,485