Question 4 10 pts On October 1, 2030, Cottonwood Company places a new asset into service. The cost of the asset is $116,000 with an estimated 5-year life and $31,000 salvage value at the end of its useful life. What is the depreciation expense for 2030 if Cottonwood Company uses the straight-line method of depreciation? $17,000 O $11,600 O $5,800 $4,250 O $23,200