Cutter Enterprises purchased equipment for $$84,000$ on January $1,2024.$ The equipment is expected to have a five$-$year life and a residual value of $$8,400.$

Using the straight$-$line method, depreciation for $2024$ would be:

Multiple Cholce

$$15,120.$

$$16,800$

$$84,000.$

None of the other answer cholces are correct.