On July 1, 2020, Weston Company places a new asset into service. The cost of the asset is $30,000 with an estimated 5-year life and $5,000 salvage value at the end of its useful life. What is the depreciation expense for 2021 if Weston Company uses the straight-line method of depreciation? O $5,000 O $2.500 O $8,000 O $10,000