Doe, Inc. purchased farm equipment at a cost of $500,000 on January 1, 2020. The equipment has an estimated residual value of $25,000 and an estimated life of 10 years. What amount will Doe, Inc. report as total depreciation expense over the 10-year life of the equipment using straight-line depreciation? Select one: O A. $47,500 O B. $475,000 C. $50,000 O D. $500,000