A company used straight-line depreciation for an item of equipment that cost $12,000, had a salvage value of 2,000 and a 5 year useful life. After depreciating the asset for 3 complete years, the salvage value was reduced to 1,200 but its total useful life remains the same. Determine the amount of depreciation to be charged against the equipment during each of the remaining years of its useful life.
a) 1,000
b) 1,800
c) 5,400
d) 2,400
e) 2,000
