LO $11\mathrm{.}3$ Montello Inc. purchases a delivery truck on January $1$ for $$35,000.$ The truck has a salvage value of $$10,000$ and is expected to be driven for eight years. Montello uses the straight$-$line depreciation method. Calculate the annual depreciation expense.

$$4,375$

$$3,125$

$$4,000$

$$3,000$