28) Iverycoast Inc. purchased a van on January 1, 2025, for $800,000. Estimated life of the van was 5 years, and its estimated residual value was $90,000. Iverycoast uses the straight-line method of depreciation. At the beginning of 2027, the corporation revised the total estimated life of the asset from 5 years to 6 years. The estimated residual value remained the same as estimated earlier. Calculate the depreciation expense for the year 2027. Initial depreciation =(800,00090,000)/5=142,000