On March 1, 20X1 a company purchases a delivery van for $23,600 which it expects to use for 4 years. At the end of the 4 years it is expected that the van will be sold for $2,000. Assume the company only prepares annual financial statements and that their year-end is the calendar year-end (ie. December 31). Calculate the amount of depreciation that should be recorded by AJE at 12/31/X1 if the straight-line method is used. Multiple Choice $4,500 $4,050 $4,917 $4,200