Activity 11-2: Suppose a piece of equipment was acquired at a cost of $40,000 with an estimated useful life of 10 years and an estimated salvage value of $4,000. Further suppose that, after two years of depreciation, it is determined that the equipment will only last for about five additional years. a) Is this revision in the estimated life for the equipment substantial enough to warrant an adjustment? b) Assuming that the estimate revision is substantial, determine how much depreciation is to be recorded in each of the final five years of the asset life, using the sum-of-the-years-digits method