Help Save & Exit Equipment was purchased for $10,000. Freight charges amounted to $500 and there was a cost of $1,500 for building a foundation and installation of the equipment. It is estimated that the equipment will have a $2,500 salvage value at the end of its 5-year useful life. Depreciation expense each year using the straight-line method will be: Multiple Choice $1,900 $2,000 $1,500