Assume that Metro Graphics paid $$56,000$ for equipment with a $14-$year life and zero expected residual value. After using the equipment for six years, the company determines that the asset will remain useful for only four more years.

Read the equirements.$]$

Record the depreciation on the equipment for year $7.($Record debits first, then credits. Select the explanation on the last line of the journal entry table$)$

Requirement $2.$ What is accumulated depreciation at the end of year $7?$

The accumulated depreciation at the end of year $7$ is $