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Planter Co. purchased a delivery van for $30,000 on January 1. The van has an estimated 5 year life with a residual value of $5,000.

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Planter Co. purchased a delivery van for $30,000 on January 1. The van has an estimated 5 year life with a residual value of $5,000. What would be the depreciation expense for this van in the first year if Planter uses the straight-line method? A. $5,000 B. $6,000 c. $25,000 D. $30,000

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