On January 1,Able Company Purchased Equipment Costing $135,000 with an Estimated

Multiple Choice

On January 1,Able Company purchased equipment costing $135,000 with an estimated salvage value of $10,500,and an estimated useful life of five years.Using the straight-line method,what is the amount that should be recorded as depreciation on December 31?

A) $27,000
B) $24,900
C) $29,100
D) $135,000
E) $10,500