Canliss Mining uses the retirement method to determine depreciation on its office equipment. During 2019, its first year of operations, office equipment was purchased at a cost of $15,000. Useful life of the equipment averages four years and no salvage value is anticipated. In 2021, equipment costing $5,300 was sold for $520 and replaced with new equipment costing $7,700. Canliss would record 2021 depreciation of: Multiple Choice $4,740. O $4,780. None of these answer choices are correct. $4,820