Winwood Construction Purchased a Crane on January 1,2013,for $102,750

Multiple Choice

Winwood Construction purchased a crane on January 1,2013,for $102,750.At the time of purchase,the crane was estimated to have a life of six years and a residual value of $6,750.In 2015,Winwood determined that the crane had a total useful life of seven years and a residual value of $4,500.If Winwood uses the straight-line method of depreciation,what will be the depreciation expense for the crane in 2015?

A) $16,000
B) $13,250
C) $9,464
D) $8,000