On January 1, 2005, the company purchased equipment for $100,000. The equipment has a 10-year expected useful

Question:

On January 1, 2005, the company purchased equipment for $100,000. The equipment has a 10-year expected useful life and $0 residual value. Initially, the company used double declining- balance depreciation. On January 1, 2008, the company changed to straight-line depreciation. The expected useful life and residual value are unchanged. Compute depreciation expense for 2008. Ignore income taxes.