Falcone Company bought equipment on January $3,201,$ for $$34,600.$ At the time of purchase, the equipment was estimated to have a useful life of $6$ years and a salvage value of $$1,120.$ Using the straight$-$line method, the amount of one year's depreciation is

Multiple Choice

$$5,580$

$$1,120$

$$5,767$

$$465$