2,200. The company uses the straight-line method of depreciation How much depreciation expense will be recorded for the furniture for the first year A company purchased new furniture at a cost of 16,000 on January 1. The furniture is estimated to have a useful life of 5 years and a salvage value of ended December 31? Multiple Choice 3,110. 690. 910. 800. 2,760.

To calculate the depreciation expense using the straight-line method, we use the formula:<br /><br />\[<br />\text{Depreciation Expense} = \frac{\text{Cost of the Asset} - \text{Salvage Value}}{\text{Useful Life}}<br />\]<br /><br />Given:<br />- Cost of the furniture = \$16,000<br />- Salvage value = \$2,200<br />- Useful life = 5 years<br /><br />Plug these values into the formula:<br /><br />\[<br />\text{Depreciation Expense} = \frac{16,000 - 2,200}{5} = \frac{13,800}{5} = 2,760<br />\]<br /><br />Therefore, the depreciation expense recorded for the first year ended December 31 is \(\$2,760\).<br /><br />The correct answer is: \(\$2,760.\)