On April $1,2015,$ Barbie Ltd$.$ purchased equipment for$$120,000.$ The equipment was estimated to have a residualvalue of $$15,000$ and is being depreciated over eight yearsusing the straight$-$line method. What should be thedepreciation expense for this equipment for the year endedDecember $31,2020?$a$.$$$15000$b$.$$$8500$c$.$$$10500$d$.$$$13125$