Lavender Company purchased a machine on January 1, 2016, for $80,000. The machine has an estimated useful life of 5 years with a salvage value of $10,000. It is being depreciated using the straight-line method. On January 1, 2018, Lavender reevaluated the machine's useful life and now believes it will continue for another 5 years (for a total of 7 years) and have no salvage value at the end of its useful life. What is the amount of depreciation expense related to this machine for the year ended December 31, 2018 ?

A) $10,400

B) $14,000

C) $8,400

D) $7,430

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