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Monet Designs purchased office fixtures on January 1 . The cost was $12,000, and the fixtures had a residual value of $5,000. The fixtures were

image text in transcribed Monet Designs purchased office fixtures on January 1 . The cost was $12,000, and the fixtures had a residual value of $5,000. The fixtures were given a useful life of 8 years. After the end of three years, it was determined that the fixtures would be obsolete in 2 more years and their residual value would still be $5,000. What will be the depreciation under the straight - line method to the nearest dollar be for the fourth year? (Round your final answer to the nearest dollar.) A. $2,625 B. $2,188 C. $875 D. $1,500

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