A business has been depreciating a machine using straight-line depreciation After recording depreciation for 5 years, they realize that the asset will need to be replaced sooner than originally estimated Equipment Original Residual value Original Useful life (years) Years remaining on date of revision DATA $110,000 $10,000 10 3 $6,000 Revised Residual Value Which of the following is the correct depreciation entry for the year of revision? Depreciation expense Accumulated Depreciation Depreciation expense $18,000 $18,000 $14,667 Accumulated Depreciation Accumulated Depreciation $14.667 $18,000 Depreciation expense $18,000 Depreciation expense $16,133 Accumulated Depreciation $16,133