Marta Inc. purchased equipment on March 1,2018 with a cost of $300,000 has an estimated salvage value of $75,000 and an estimated life of 15 years. It is to be depreciated by the straight-line method. What is the amount of depreciation for the first year? $11,250 $12,500 $15,000 $2,500 QUESTION 4 A plant asset was purchased on January 1, for $55,000 with an estimated salvage value of $5,000 at the end of its useful life. The current year's depreciation expense is $5,000 calculated on the straight-line basis and the balance of the accumulated depreciation account at the end of the year is $20,000. The remaining useful life of the plant asset is how many years? Enter this as a number