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 $23,400 $18,900 $14,400 $37,800