On June 30, 2024. Clooney Printers purchased a printer for $50,000. It expects the printer to last for four years and have a residual value of $6,000. Compute the depreciation expense on the printer for the year ended December 31, 2024, using the straight-line method.
A. $11,000
B. $6.417
C. $5,500
D. $12,500