Question 16 2 pts Montgomery Inc. acquired equipment on January 1, 2015, for $400,000. At the date of acquisition, the equipment had an estimated useful life of eight years with a $40,000 salvage value, and it was depreciated using the straight-line method. On January 1, 2020, based on new information, Montgomery decided that the equipment had a total estimated life of ten years and no salvage value. Depreciation expense on the equipment in 2020 should be O $40,000 O $45,000 O $25,000 O $35,000