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Billu Limited purchased equipment on January 1, 2019 for $275,000. It was estimated that the...

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Billu Limited purchased equipment on January 1, 2019 for $275,000. It was estimated that the equipment would have a residual value of $25,000 at the end of its useful lite. The asset's usetul life was estimated at 5 years or 10,000 units of output. The company has a December 31 year end. Additional information: Assuming the company uses the units-of-production depreciation method, calculate the depreciation expense for 2022. A) $25.00 B) $57,500 C) $63.250 D) $202.500

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