On July 1, 2013, equipment is purchased for $9,000. It has an expected useful life of nine years and no residual value. On January 1, 2015, the company decides the equipment will last five more years. What amount of depreciation expense should be recorded on December 31, 2015 if the Straight-Line Method is used?

Multiple Choice

$1,400

$1,800

$1,500

None of the other alternatives are correct

$1,000