Question 1 Not yet awered Marked out of 100 Tag cuestion Spencer Company purchased a tractor at a cost of $540,000. The tractor has an estimated salvage value of $60,000 and an estimated life of years, or 12.000 hours of operation. The tractor was purchased on January 1, 2019 and was used 2.400 hours in 2019 and 2,200 hours in 2020 What amount will Sean Company report as depreciation expense over the 8-year life of the equipment using straight-line depreciation Select one: O A $120,000 B. 575.000 $480,000 D. 5540,000