On January 1, 2016. Fig, Inc. purchased an asset for $48,000. It was estimated that the asset life was seven years, after which it would have a residual value of $4,100. Assuming the use of the sum-of-the-years-digits method, depreciation expense for 2016 would be. Select one O a $10,975 b. $12,000 O c. $5,487.50 O d. $12,804