120. On January 1, 2014, Bauer Co. had purchased a machine for $60,000. This machine had an estimatedservice life of eight years and an estimated residual value of $4,000. It has been depreciated by the straight-linemethod since acquisition. On January 1, 2017, it was determined that the remaining service life for this machine was nine years and that the residual value would be $3,000

Record the depreciation expense for 2017

Please explain how you got the answer

Thank you!