On January 1, 2009, Houston Company purchased a delivery truck that cost $40,000. Cash of $10,000 was paid, and the balance of $30,000 was payable on January 31, 2010. The truck has an estimated useful life of four years and no residual value. Considering only these facts, depreciation expense (on the truck) for 2009, would be:
a. $10,000
b. $7,500
c. $17,500
d. $8,700
e. None of the above is correct