On November 1, 2021, Carla Vista Co. places a new asset into service. The cost of the asset is $77000 with an estimated 10-year life and $7000 salvage value at the end of its useful life. What is the depreciation expense for 2022 if Carla Vista Co. uses the straight-line method of depreciation?

$1750.

$1167.

$3850.

$7000.