Company K purchased a heavy machinery for $25,000, and the machine was estimated to have a useful life of 10 years with a salvage value of $2,000. Depreciation has been recorded for 7 years on a straight-line basis. However, in 2017 (year 8 ), manager re-examined the useful life and belieyed that the total estimated life should be 15 years instead, with a salvage value of $3,000. Select the correct statement:
(A). In 2017 (year 8), depreciation expense is $818
(B) . In 2017 (year 8), depreciation expense is $2,300
(C) . In 2017 (year 8), depreciation expense is $1,113
(D). In 2017 (year 8), depreciation expense is $738