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What should be the charge for depreciation of the equipment

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Problem 1: On January 1, 2014, Marigold Corp. purchased equipment at a cost of $395000. The equipment was estimated to have a salvage value of $8000 and it is being depreciated over eight years under the sum-of-the-years'-digits method. What should be the charge for depreciation of this equipment for the year ended December 31, 2021?

Option 1: $10750
Option 2: $10972
Option 3: $49375
Option 4: $48375

Reference no: EM132902911

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