When determining how to allocate depreciation, a method should be selected that Multiple choice question. corresponds to the pattern of benefits received from the asset's use. maximizes GAAP earnings corresponds to how the cost of the asset is deducted for tax purposes. allocates the cost over the longest legal life.At the beginning of year 1, Valerie Corp. purchases equipment for $10,000. The equipment has a residual value of $4,000 and an expected useful life of 4 years. What is straight-line depreciation expense for year 1? Multiple choice question. $1,000 $1,500 $4,000 $6,000