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Wayne Co. purchased $40,000 of equipment with a salvage value of $5,000 and a useful life of nine years on August 15, 2016. If the
Wayne Co. purchased $40,000 of equipment with a salvage value of $5,000 and a useful life of nine years on August 15, 2016. If the company used sum-of-the-years'-digits depreciation computed to the nearest whole year, depreciation expense for 2017 was
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| a. | $6,222 |
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| b. | $7,000 |
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| c. | $7,111 |
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| d. | $8,000
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