A company purchased factory equipment on April 1, 2005, for $48,000. It is estimated that the equipment will have a $3,000 salvage value at the end of its 10-year useful life. Using the straight-line method of depreciation, what amount would be recorded as depreciation expense at December 31, 2005? OMIT all dollar signs, commas and decimals. Round to the nearest whole dollar. List numbers only, no letters.