assuming no further impairments or recoveries ,calculate the annual depreciation expense for the years 2022 to 2024.

Wildhorse Snowboarding Company, a public company, purchased equipment on January 10, 2017, for $700,000. At that time, management estimated that the equipment would have a useful life of 10 years and a residual value of $50,000. Wildhorse uses the straight-line method of depreciation and has a December 31 year end. Wildhorse tested the equipment for impairment on December 31, 2021, after recording the annual depreciation expense. It was determined that the equipment's recoverable amount was $304,000, and that the total estimated useful life would be eight years instead of 10, with a residual value of $10,000 instead of $50,000