Question 1 Not yet answered Points out of 2.50 Removerlag On January 1, 2013, Chung Company purchased equipment at a cost of $390,000. The equipment was estimated to have a salvage value of $12,000 and it is being depreciated over eight years under the sum-of-the-years'-digits method. What should be the charge for depreciation of this equipment for the year ended December 31, 2020? Select one: a. $10,500 b. $10,833 c. $48,750 d. $47,250