A company's fiscal year-end is December 31. The company purchased equipment costing $130,000 on May 1, Year 1. The machine is expected to be obsolete after five years (60 months), and thereafter no longer useful to the company. The estimated salvage value is $7,000. The company's depreciation policy is to record depreciation for the portion of the year that the asset is in service.

Use the straightline depreciation method to compute how much depreciation expense should be reported on the company's income statement for the year ended December 31, Year 1. (Round your answer to the nearest whole number. Do not include a $ sign in your answer.)