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Equipment costing $120,000 with a residual value of $20,000 and an estimated life of 10 years has been depreciated using the straight-line method for 2

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Equipment costing $120,000 with a residual value of $20,000 and an estimated life of 10 years has been depreciated using the straight-line method for 2 years. Assuming a revised estimated total life of 5 years and no change in the residual value, the depreciation expense for year 3 would be: A. $14,400 B. $16,000. C. $24,000. D. $19,200

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