On October 1, 2017, Dew Company placed a new asset into service. The cost of the asset was $80,000 with an estimated eight-year life and an $8,000 salvage value. Assuming a year-end of December 31, what is the depreciation expense for 2017 if Dew Company uses the straight-line method of depreciation? Select answer from the options below $10,000 $9,000 $2,250 $375