Use the information BELOW to answer the following question. Using the straight-line method, what is the amount of depreciation expense each year? Cody Enterprises purchased equipment for $64,000. In addition, shipping charges of $800 were incurred to obtain the equipment. The company paid $5,000 to construct a foundation and install the equipment. The equipment is estimated to have a residual value of $6,000 at the end of its 5-year useful life. A. $13, 960 B. $12, 760 C. $11, 960 D. $13, 800