Equipment was purchased for $160000. Freight charges amounted to $3000 and there was a cost of $14000 for building a foundation and installing the equipment. It is estimated that the equipment will have a $34000 salvage value at the end of its 5-year useful life. Depreciation Expense each year using the straight-line method will be

$28600.

$28000.

$25200.

$35400.