Don's Copy Shop bought equipment for $450000 on January 1 2016. Don estimated the useful life to be 3 years with no salvage value and the straight-line method of depreciation will be used. On January 1 2017 Don decides that the business will use the equipment for a total of 5 years. What is the revised depreciation expense for 2017?

A) $150000
B) $ 60000
C) $ 75000
D) $112500

Straight-Line Method

A method of calculating depreciation of an asset by evenly spreading its cost over the expected useful life of the asset.

Depreciation Expense

The portion of the cost of a fixed asset that is considered an expense due to its wear and tear over a specific period.

Useful Life

The estimated period over which a fixed asset is expected to be usable by the entity, affecting its depreciation calculation.