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A company purchased a new delivery van at a cost of $45,000 on July 1....

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Accounting

A company purchased a new delivery van at a cost of $45,000 on July 1. The delivery van is estimated to have a useful life of 6 years and a salvage value of $3,000. The company uses the straight-line method of depreciation. How much depreciation expense will be recorded for the van during the first year ended December 31?

A. $6,500.

B. $4,000.

C. $3,500.

D. $3,250.

E. $7,000.

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