Question 1 of 33 - 71 MIT View Policies Current Attempt in Progress On November 1, 2016, Crane Company places a new asset into service. The cost of the asset is $84500 with an estimated 10-year life and $10500 salvage value at the end of its useful life. What is the depreciation expense for 2017 if Crane Company uses the straight-line method of depreciation? O $7400. $4225. O $1233. O $1850