If a fixed asset, such as a computer, were purchased on January 1st for $2,261.00 with an estimated life of 3 years and a salvage or residual value of $169.00, what is the journal entry for monthly expense under straight-line depreciation? Select the correct answer. Depreciation Expense $58.11 Accumulated Depreciation $58.11 Accumulated Depreciation $58.11 Depreciation Expense $58.11 Depreciation Expense $697.33 Accumulated Depreciation $697.33 Accumulated Depreciation $697.33 Depreciation Expense $697.33 Equipment with a cost of $158,788.00 has an estimated residual value of $8,307.00 and an estimated life of 6 years or 13,665 hours. It is to be depreciated by the straight-line method. What is the amount of depreciation for the first full year, during which the equipment was used 3,395 hours? Select the correct answer. O$25,000.17 $6.00 $44.32 $37,386.24