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On October 1, 2018, Swifty Company places a new asset into service. The cost of the asset is $124000 with an estimated 5-year life and

On October 1, 2018, Swifty Company places a new asset into service. The cost of the asset is $124000 with an estimated 5-year life and $37000 salvage value at the end of its useful life. What is the depreciation expense for 2018 if Swifty Company uses the straight-line method of depreciation?

$4350

$24800

$6200

$12400

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