Arcadia HS, purchased equipment for $410,000 which was estimated to have a useful life of 10 years with a residual value of $10,000 at the end of that time. Depreciation has been recorded for 6 years on a straight- line basis. At the beginning of the year 7, it is determined that the total estimated life should be 10 years with a residual value of $5,000 at the end of that time. Questions: a, What is the journal entry to correct the prior years' depreciation? b. Calculate the depreciation expense for 2017