An asset was purchased for $57,000 and originally estimated to have a useful life of 10 years with a residual value of $4,300. After two years of straight-line depreciation, it was determined that the remaining useful life of the asset was only 2 years with a residual value of $1,720.

a.Determine the amount of the annual depreciation for the first two years.

$

b.Determine the book value at the end of Year 2.

$

c.Determine the depreciation expense for each of the remaining years after revision.

$