On May 1, 2021, Bonita Company sells office furniture for $294000 cash. The office furniture originally cost $760000 when purchased on January 1, 2014. Depreciation is recorded by the straight-line method over 10 years with a salvage value of $77800. What depreciation expense should be recorded on this asset in 2021? O $22740 O $34110. O $25333 O $68220. Save for Later Attempts: 0 of 1 used Submit Answer Crane Towing Company purchased a tow truck for $184000 on January 1, 2020. It was originally depreciated on a straight-line basis over 10 years with an assumed salvage value of $39000. On December 31, 2022, before adjusting entries had been made, the company decided to change the remaining estimated life to 4 years (including 2022) and the salvage value to $6000. What was the depreciation expense for 2022? $19500 O $46000 O $15600. O $37250. Save for Later Attempts: 0 of 1 used Submit