On October 1, 2020, ABAC Farms purchased a machine with a cost of $120,000 and a salvage value of $20,000 and a useful life of 10 years. Assuming ABAC Farms uses Straight line with a 1/2 year convention, what is the depreciation for 2020? Question 5 options: $2,500 $5,000 $7,500 $10,000