Knowledge Check $01$

On January $1,2020,$ Truesdale, Incorporated, purchased a piece of machinery for use in operations. The total acquisition cost was $$33,000.$ The machine has an estimated useful life of $3$ years and a salvage value of $$3,000.$

Using the straight$-$line method, the amount of depreciation that should be recorded during $2020,$ is approximately

$$3,000$

$$10,000$

$$11,000$

$$30,000$