A machine that was acquired on January 1, 20x1, for $70,000 has been amortized on a straight-line basis assuming a service life of 5 years and a residual value of $10,000. At the beginning of 20x4, it was decided that the remaining service life would be 3 years; and that the residual value should remain unchanged. The depreciation expense for 20x4 should be: Multiple Choice $8,000 $10,000 $6,000 $12,000