What Is the Depreciation Expense for the Second Year (Straight-Line

Multiple Choice

What is the depreciation expense for the second year (straight-line method) using the following? $$\begin{array} { | l | c | } \hline \text { Cost of equipment } & \$ 14,000 \\\hline \text { Residual value } & \$ 500 \\\hline \text { Life } & 4 \text { years } \\\hline\end{array}$$

A) $14,500
B) $13,500
C) $3,375
D) $3,275
E) None of these