On january 1, jamaica company purchased equipment for $18,000. the estimated salvage value is $2,000 and the estimated useful life is 5 years. on december 31 of the third year, before adjusting entries have been made, the company decided to extend the estimated useful life of the equipment by one year giving it a total life of 6 years. the company did not change the salvage value and continues to use the straight-line method. what is the depreciation expense for the third year?

Jason is looking for an engagement ring to offer his girlfriend. he has found a similar ring at each of four different jewelry stores. he doesn't have enough money to pay for the ring in cash, so he is planning on opening a line of credit (credit card) at the store he ends up buying the ring from. the chart below outlines the difference in the price of the rings the different stores offer as well as the difference in credit options. jason plans to pay off the ring purchase in 36 months. according to the information in the table, which of the jewelry stores will have the cheapest ring in the end?