PT ABC acquired equipment on January 1, 2019, for €60,000. PT ABC elects to value this class of equipment using revaluation accounting. This equipment is being depreciated on a straight-line basis over its 6-year useful life. There is no residual value at the end of the 6-year period. At December 31, 2020 the appraiser determined that the fair value of the equipment is €35,000. No additional revaluation is incurred in 2021. The depreciation expense of the equipment for 2021 will be
• a. €10,000
• b. €8,750
• c. €20,000
• d. €18,750