Revision of Depreciation}

On January 1, 2017, the Kelley Company ledger showed a building with a cost of \(\$ 250,000\) and related accumulated depreciation of \(\$ 96,000\). The depreciation resulted from using straight-line depreciation with a useful life of 20 years and no residual value. On this date, Kelley determined that the building had an estimated remaining useful life of 16 years and a residual value of \(\$ 14,000\).

\section*{Required:}

Determine the depreciation expense for 2017.

\section*{OBJECTIVE 8 Brief Exercise