The Life of a Refrigerator Is 8 Years $\frac{1}{8}$ B) $\frac{2}{9}$ C) $\frac{1}{7}$

The life of a refrigerator is 8 years. What is the fraction to use in the annual depreciation formula for the second year?

A) $\frac{1}{8}$
B) $\frac{2}{9}$
C) $\frac{1}{7}$
D) $\frac{7}{36}$