Assume that cougar services puchased new equipment on may 1st 2022. the following costs were incurred related to this equipment:

- $25,000 purchasing price

- $2,000 of shipping costs

- $3,000 of instillation and testing costs

- $2,400 of insurance premiums paid to cover the equipment for 1-year

The equipment has a salvage value of $3,600 and a 10-year useful life. which of the following is the correct amount of depreciation expense recorded by cougar services for the equipment for 2022?

a. $2,880

b. $2,640

c. $2,000

D. $1,760