Question 1 Able Towing Company purchased a tow truck for $60,000 on January 1, 2015. It was originally depreciated on a straight-line basis over 10 years with an estimated salvage value of $12,000. On December 31, 2017, before adjusting entries had been made, the company decided to change the remaining estimated life to 4 more years as of January 1, 2017, and the salvage value was adjusted to $2,000. How much is depreciation expense for 2017? o $4,800 $15,000 $6,000 $12,100