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PayDay Company purchased equipment on August 1, 2021 for $100,000. The residual value is $20,000 and the estimated useful life is 8 years. What

PayDay Company purchased equipment on August 1, 2021 for $100,000. The residual value is $20,000 and the estimated useful life is 8 years. What is the Depreciation Expense for the year ending December 31, 2021, if the company uses the straight-line method? (Round your final answer to the nearest dollar.) O $5,000 $10,000 $5,208 $4,167

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