Equipment Was Purchased on January 1 for $39,000 with an Estimated

Multiple Choice

Equipment was purchased on January 1 for $39,000 with an estimated residual value of $3,000. The current year's Depreciation Expense is $4,000, calculated on the straight-line basis, and the balance of the Accumulated Depreciation account at the end of the year is $12,000. The remaining useful life of the equipment is

A) 3 years.
B) 5 years.
C) 6 years.
D) 9 years.