An asset was purchased for $126,000 on January 1, Year 1 and originally estimated to have a useful life of 9 years with a residual value of $11,500. 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 $2,200. Calculate the third-year depreciation expense using the revised amounts and straight-line method.

a.$23,588.89

b.$24,588.89

c.$25,088.89

d.$25,588.89