An asset having a four-year service life and a salvage value of $5,000 was acquired for $45,000 cash on June 28. What will be the depreciation expense at the end of the first year, December 31
A) $22,500, under the double-declining-balance method
B) $7,000, under the straight-line method
C) $11,250, under the double-declining-balance method
D) $10,000, under the straight-line method