Ron's Quik Shop Bought Equipment for $140,000 on January 1

Multiple Choice

Ron's Quik Shop bought equipment for $140,000 on January 1, 2021.Ron estimated the useful life to be 5 years with no salvage value, and the straight-line method of depreciation will be used.On January 1, 2022, Ron decides that the business will use the equipment for a total of 6 years.What is the revised depreciation expense for 2022?

A) $22,400
B) $11,200
C) $18,666 d $28,000