Assume you purchase a new tractor on December 1, 2022 for a cost of $80,000. You estimate you will be able to use the tractor for 10 years, and it will have a salvage value of 20% of the original by the end of its useful life. Determine the book value at the end of the first year using straight-line depreciation. O $533.33 O $6,400 O $73,600 O $79,466.67