QUESTION 9 On August 1, Warren Company placed into service equipment with a capitalized cost of $49,439. The equipment was paid for by issuing a 90 day 6% Note Payable. Based on industry standards, the equipment is expected to have a useful life of 8 years, at which time it will have an estimated worth of $4,881. The equipment will be depreciated using the Straight Line method. ' Based on these transactions alone, what is the Depreciation Expense on the equipment on August 3]? l'" "7 " 7 'l D