On October 1, 2021, Sheridan Company places a new asset into service. The cost of the asset is $128000 with an estimated 5-year life and $28000 salvage value at the end of its useful life. What is the depreciation expense for 2021 if Sheridan Company uses the straight-line method of depreciation? $5000 $12800 $25600 $6400 Save for Later Attempts: 0 of 1 used Submit