Wright reported the following balances in their PP&E accounts: 12/31/15 12/31/X4 Equipment 140,000 100,000 Accumulated Depreciation (35,000) (30,000) During the year, Wright purchased equipment for a cost of $70,000. Wright also sold equipment that had a cost of $30,000 and accumulated depreciation of $10,000. What amount of depreciation expense was recorded during the year? 20,000 5,000 10,000 15,000