When originally purchased, a vehicle had a cost of $23,000, with an estimated residual value of $1,500. The estimated useful life is 8 years. After 4 years of straight-line depreciation, the estimated useful life was revised from 8 to 6 years, but with zero residual value. The depreciation expense in year 5 should be

Multiple Choice

$10,750.00

$2.687.50

$5,543.75

$6,125.00

$2,856.25