On January 1, 2014, Bonita Industries purchased equipment at a cost of $398,000. The equipment was estimated to have a salvage value of $11,000 and it is being depreciated over 8 years under the sum-of-the-years'-digits method. What should be the charge for depreciation of this equipment for the year ended December 31, 2018? O $53,750 $48,750 O $11,056 O $10,750 On January 1, 2014, Bonita Industries purchased equipment at a cost of $398,000. The equipment was estimated to have a salvage value of $11,000 and it is being depreciated over 8 years under the sum-of-the-years'-digits method. What should be the charge for depreciation of this equipment for the year ended December 31, 2018? O $53,750 $48,750 O $11,056 O $10,750