On January 1,Year 1,Li Company Purchased an Asset That Cost

Multiple Choice

On January 1,Year 1,Li Company purchased an asset that cost $80,000.The asset had an expected useful life of five years and an estimated salvage value of $16,000.Li uses the straight-line method for the recognition of depreciation expense.At the beginning of the fourth year,the company revised its estimated salvage value to $8,000.What is the amount of depreciation expense to be recognized during Year 4?

A) $12,800
B) $16,800
C) $33,600
D) $20,800