Question: Canliss Mining uses the replacement method to determine depreciation on its office equipment. During 2019, its first year of operations, office equipment was purchased at

Canliss Mining uses the replacement method to determine depreciation on its office equipment. During 2019, its first year of operations, office equipment was purchased at a cost of $24,000. Useful life of the equipment averages four years and no salvage value is anticipated. In 2021, equipment costing $5,400 was sold for $450 and replaced with new equipment costing $7,500. Canliss would record 2021 depreciation of:

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