On October 1, 2002, Amman Company bought new equipment into service. The cost of the asset is $20,000 with an estimated 5-year life and $5,000 salvage value at the end of its useful life. 8- What is the accumulated depreciation of the plant asset on December 31, 2007, assuming that Amman Company uses the straight line method of depreciation? $10,000 $40,000 $50,000. $2,0000