Lowe Company Purchased a Machine at a Cash Cost of $25,000

Multiple Choice

Lowe Company purchased a machine at a cash cost of $25,000 and is depreciating it over a 10-year estimated useful life with a residual value of $3,000.At the beginning of the eighth year,a major overhaul on it was completed at a cost of $8,000,and the total estimated useful life was changed to 12 years with the residual value unchanged.depreciation expense for year 8 would be which of the following (assuming straight-line depreciation) ?

A) $2,200
B) $2,920
C) $3,100
D) $8,800