A company has purchased equipment on January $1,2021,$ for $$552,000.$ In $20212023,$ the company depreciated the asset on a straight$-$line basis with an estimated service life of eight years and an $$80,000$ residual value. In $2024,$ the company has started to change its business strategy and now believes that the equipment will be used for only another two years $($five years total$)$ but does not believe the residual value has changed. What depreciation would the company record for the year $2024$ on this equipment?

Multiple Choice

$$94,400$

$$120,600$

$$147,500$

$$170,750$