On June 30, 2018, Clooney Printers purchased a printer for $60,000. It expects the printer to last for four years and have a residual value of $8,000. Compute the depreciation expense on the printer for the year ended December 31, 2018, using the straight-line method. (Round any intermediate calculations to two decimal places, and your final answer to the nearest dollar.)
A. $17,438
B. $12,750
C. $6,375
D. $15,000