On January 1, Year 1, Li Company purchased an asset that cost $30,000. The asset had an expected useful life of five years and an estimated salvage value of $6,000. 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 $3,000. What is the amount of depreciation expense to be recognized during Year 4? Multiple Choice O $6,300 $4,800 $12,600 $7,800 Prev 47 of 50 Next >