Dinkins Company purchased a truck that cost $75,000. The company expected to drive the truck 100,000 miles over its 5-year useful life, and the truck had an estimated salvage value of $11,500. If the truck is driven 32,500 miles in the current accounting period, what would be the amount of depreciation expense for the year? (Do not round intermediate calculations.)

$20,638.

$24,375.

$12,700.

$30,000.