1. On 31 December 2009 a new motor vehicle with a useful life of five years and an estimated residual value of $5,000 was purchased by a business at a cost of $25,000. The amount of depreciation expense charged for the six months ended 30th June 2010, using the straight-line method is:
2. Nil.
3. $4,000
4. $2,000
5. $25,000