MacGyver Company bought equipment on January 3, 20X1, for $34,600. At the time of purchase, the equipment was estimated to have a useful life of 6 years and a salvage value of $1,120. Using the straight-line method, the amount of one year's depreciation is

A. $1,120

B.$5,767

C.$465

D.$5,580

MacGyver Company bought equipment on January 3,201, for $34,600. At the time of purchase, the equipment was estimated to have a useful life of 6 years and a salvage value of $1,120. Using the straight-line method, the amount of one year's depreciation is $1,120 $5,767 $465 $5,580