An asset was purchased for $119,000 on January 1, Year 1. and originally estimated to have a useful life of 10 years with a residual value of $10,500. At the beginning of the third year, it was determined that the remaining useful life of the asset was only 4 years with a residual value of $2,000. Calculate the third- year depreciation expense using the revised amounts and straight-line method. ca. $23,825.00 ob. $24,825.00 c. $22,825.00 cd. $24,325.00