Practice HW Ending Week 3 Context: a large Brazilian company, is reporting some financial data as part of their company statistic safekeeping. Your job is to analyze the following statements and report of the best solution based on the answer choices below. Only select one answer choice and report back to your team. Garnett Company purchased some equipment of July 1 , Year 1 , for $80,000. The equipment has an estimated useful life of 10 years and an estimated salvage value of $5,000. Gamett computes depreciation of a straight-line basis. How much depreciation should be recorded for the year ended December 31 , Year 1 ? A. \$3.750. B. $4,000. C. $7,500. D. $8,000. E. $9,000