Q7-52. Cleveland Corporation acquired a machine for $42,000 and has recorded depreciation for two years using the straight-line method over a five-year life and $7,000 residual value. At the start of the third year of use, Cleveland revised the estimated useful life to a total of 10 years. Estimated residual value declined to $0.

How much depreciation should Cleveland record in each of the asset’s last eight years (that is, year 3 through year 10), following the revision?

a. $9,333

c. $3,500

b. $2,800

d. Some other amount