On October 1, 2020, Roam Link Inc. purchased a new piece of equipment that cost $40,000....
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On October 1, 2020, Roam Link Inc. purchased a new piece of equipment that cost $40,000. The estimated useful life is four years, and estimated residual value is $6,000. Assume Roam Link purchased the equipment on October 1, 2020. If Roam Link uses the straight-line method for depreciation, what is the depreciation expense for the year ended December 31, 2020? (Round your answer to the nearest whole dollar.) O A. $2,833 B. $8,500 OC. $2,125 D. $2,500 On October 1, 2020, Roam Link Inc. purchased a new piece of equipment that cost $40,000. The estimated useful life is four years, and estimated residual value is $6,000. Assume Roam Link purchased the equipment on October 1, 2020. If Roam Link uses the straight-line method for depreciation, what is the depreciation expense for the year ended December 31, 2020? (Round your answer to the nearest whole dollar.) O A. $2,833 B. $8,500 OC. $2,125 D. $2,500
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