Hilux Industrial had net plant, property, and equipment assets of $$57,000$ on March $31,2018.$ By June $30,2018,$ the net value of HiLux Industrial's net plant, property, and equipment had declined to $$54,500.$ Which of the following is the most likely explanation?

Hilux Industrial recorded $$2,500$ of depreciation during the period.

HiLux Industrial purchased $$2,500$ worth of plant, property, or equipment assets during the period.

The market value of HiLux Industrial's plant, property, and equipment declined by $$2,500$ during the period.

HiLux Industrial made a principal payment of $$2,500$ to the bank who provided one of the loans used to purchase some of the company's equipment.