On March 1, 2020, Grande Link Inc. purchased a new piece of equipment that cost $65,000. The estimated useful life is seven years, and estimated residual value is $2,000. Assume Grande Link purchased the equipment on March 1, 2020. If Grande Link uses the straight-line method for depreciation, what is the depreciation expense for the year ended December 31, 2020? (Round your answer to the nearest whole dollar.) A. $7,500 B. $3,000 C. $7,738 D. $9,000