On January 1, Year 1, Li Company purchased an asset that cost $90,000. The asset had an expected useful life of five years and an estimated salvage value of $18,000. Li uses the straight-line method for the recognition of depreciation expense. At the beginning of the fourth year, the company revised its estimated salvage value to $9,000. What is the amount of depreciation expense to be recognized during Year 4? Multiple Choice O $14,400 $18,900 $37,800 $23,400

On January 1, Year 1, LI Company purchased an asset that cost $90,000. The asset had an expected useful life of five years and an estimated salvage value of $18,000. U uses the straight-line method for the recognition of depreciation expense. At the beginning of the fourth yeat, the company revised its estimated salvage value to $9,000. What is the amount of deprechation expense to be recognized during Year 4 ? Muliple Choice 514,400 $18,900 $37,800 $23.400