Use the following information for the next THREE questions. Crowe Company purchased a piece of equipment on October 1, 2018 for $120,000. The equipment has an estimated life of four years or 464,000 units of production and an estimated salvage value of $4,000. Crowe's accounting year ends on December 31. The following additional data was collected: 11,000 units were produced in 2018 and 90,000 units were produced in 2019. (If necessary, round to the nearest dollar.) Question 2 of 3: Using the straight-line method, the amount of depreciation expense to be recorded on December 31, 2018 is: $31,000. $7,250. O $7,500. $29,000