A company purchased a new delivery van at a cost of 45,000 on January 1. The delivery van is estimated to have a useful life of 6 years and a salvage value of 3,300. The company uses the straight-line method of depreciation How much depreciation expense will be recorded for the van during the first year ended December 31? Multiple Choice 6,950. 3,850. 4,830 3,750.

To calculate the depreciation expense using the straight-line method, we use the following formula:<br /><br />\[ \text{Depreciation Expense} = \frac{\text{Cost of the Asset} - \text{Salvage Value}}{\text{Useful Life}} \]<br /><br />Given:<br />- Cost of the delivery van = \$45,000<br />- Salvage value = \$3,300<br />- Useful life = 6 years<br /><br />Plugging in these values:<br /><br />\[ \text{Depreciation Expense} = \frac{45,000 - 3,300}{6} \]<br />\[ \text{Depreciation Expense} = \frac{41,700}{6} \]<br />\[ \text{Depreciation Expense} = 6,950 \]<br /><br />Therefore, the depreciation expense recorded for the van during the first year ended December 31 is \$6,950.<br /><br />The correct answer is:<br />\[ \$ 6,950. \]