Saved Help Save & Exit 116 8. A company purchased a new delivery van at a cost of $48,000 on July 1. The delivery van is estimated to have a useful life of 6 years and a salvage value of $3,600. The company uses the straight-line method of depreciation. How much depreciation expense will be recorded for the van during the first year ended December 31? Multiple Choice $5,160 $4200 $3700 54000 S7400