Spinoza Enterprises purchased a machine on January 1, 2019, for $8,000 with an estimated salvage value of $2,000 and an estimated useful life of 8 years. On January 1, 2021 Spinoza decides the machine will last 12 years from the date of purchase. The salvage value is still estimated at $2,000. Using the straight line method, the new annual depreciation will be O a. $450 b.5667 O c $500 Od. $600