Lavender Company Purchased a Machine on January 1, 2014, for $80,000

Lavender Company purchased a machine on January 1, 2014, for $80,000. The machine has an estimated useful life of 5 years with a salvage value of $10,000. It is being depreciated using the straight-line method. On January 1, 2017, Lavender reevaluated the machine's useful life and now believes it will continue for another 5 years (for a total of 7 1/2 years) and have no salvage value at the end of its useful life. Depreciation expense for the year ended December 31, 2017, related to this machine would be

A) $14,000
B) $10,400
C) $ 6,933
D) $ 8,167

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