Completion Status: 1 2 4 5 6 8 Moving to another question will save this response. Question 1 Question 1 of 8 1 points Save Answer A company buys an oil rig for $1,000,000 on January 1, 2020. The life of the rig is 10 years and the expected cost to dismantle the rig at the end of 10 years is $200,000 (present value at 10% is $77,110). The appropriate interest rate for the company is 10%. What expenses should be recorded for 2020 as a result of these events? OA. Depreciation expense of $107,711 and interest expense of $7,711 OB. Depreciation expense of $120,000 Oc. Depreciation expense of $100,000 and interest expense of $20,000 O D. Depreciation expense of $120,000 and interest expense of $7,711 Activate Windows Go to Settings to activate WE