When Originally Purchased, a Vehicle Costing $23,000 Had an Estimated

Multiple Choice

When originally purchased, a vehicle costing $23,000 had an estimated useful life of 8 years and an estimated salvage value of $3,000. After 4 years of straight-line depreciation, the asset's total estimated useful life was revised from 8 years to 6 years and there was no change in the estimated salvage value. The depreciation expense in year 5 equals:

A) $11,500.
B) $2,875.
C) $5,000.
D) $2,500.
E) $5,750.