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Fox Company takes a full year's depreciation expense in the year of an asset's acquisition and no depreciation expense in the year of disposition. Data relating to one of Fox's depreciable assets at December 31, 2019 are as follows: Acquisition year Cost Residual value Accumulated depreciation Estimated useful life 2017 $140,000 20,000 96,000 5 years a. o Using the same depreciation method as used in 2017, 2018, and 2019, how much depreciation expense should Fox record in 2020 for this asset? 1 $160 b. $16,000 3 $24,000 d. $28,000 2 c. 4 5