On January 2, 2019, Mumford Corporation acquired equipment for $90,000. The estimated life of the equipment is 4 years. The estimated residual value is $3,000. What is the amount of depreciation expense for 2020, if the company uses the straight line method of depreciation? (Round intermediary calculations to two decimal places and your final answer to the nearest dollar.)

Question 19 options:

	A) $22,500
	B) $21,750
	C) $43,500
	D) $45,000