Revision of Useful Life and Residual Value Estimates Nowling Company buys a machine for $75,000 on January 1, 2004. A residual value of $5,000 and a useful life of 10 years are estimated at the acquisition date. Nowling uses straight-line depreciation. Early in 2008, Nowling discovers that a competitor has come out with a new product that will reduce demand for Nowling's product. As a result, it estimates that the machine will no longer be of use after 2010. Nowling believes it will be able to sell the machine to a scrap dealer for $2,000 at that time. Prepare a depreciation schedule similar to Exhibit 8-2, p. 345 comparing the original depreciation schedule (for 2004 through 2013) with the depreciation schedule based on the revised estimates of useful life and residual value (for 2004 through 2010). Show all amounts in thousands of dollars (rounded to the nearest tenth).