#7

On January 1, Year 1, Poultry Processing Company purchased a freezer and related installation equipment for $67,500. The equipment had a three-year estimated life with a $4,200 salvage value. Straight-line depreciation was used. At the beginning of Year 3 , Poultry Processing revised the expected life of the asset to four years rather than three years. The salvage value was revised to $3,200. Required Compute the depreciation expense for each of the four years, Year 1 to Year 4