12) Equipment was purchased at the beginning of 2019 for $600,000. At the time of its purchase, the equipment was estimated to have a useful life of five years and a salvage value of $100,000. The equipment was depreciated using the straight-line method of depreciation through 2021. At the beginning of 2022, the estimate of useful life was revised to a total life of seven years. The amount to be recorded for depreciation for 2022 is?