At the beginning of 2018, Pina Colada Company acquired equipment costing $130,200. It was estimated that this equipment would have a useful life of 6 years and a salvage value of $13,020 at that time. The straight-line method of depreciation was considered the most appropriate to use with this type of equipment. Depreciation is to be recorded at the end of each year.During 2020 (the third year of the equipment's life), the company's engineers reconsidered their expectations, and estimated that the equipment's useful life would probably be 7 years (in total) instead of 6 years. The estimated salvage value was not changed at that time. However, during 2023 the estimated salvage value was reduced to $5,000.Indicate how much depreciation expense should be recorded each year for this equipment, by completing the following table.

12:13 1.OILTEXHW 8WileyPLUSWeygandt, Accounting Principles, 13eHelp | System Announcements+0CALCULATORPRINTER VERSIONBACKNEXTASSIGNMENT RESOURCESHW 8Problem 10-04A (Video)Brief Exercise 10-04Brief Exercise 10-06At the beginning of 2018, Pina Colada Company acquired equipmentBrief Exercise 10-07 ata2 (Part Levelcosting $130,200. It was estimated that this equipment would have aSubmission)useful life of 6 years and a salvage value of $13,020 at that time. TheBrief Exercise 10-08Brief Exercise 10-09 a-6straight-line method of depreciation was considered the most appropriate(Part Level Submissionto use with this type of equipment. Depreciation is to be recorded at theBrief Exercise 10-10 a-bExercise 10-02end of each year.Exercise 10-09Exercise 10-05.aub(Part Level Submission)During 2020 (the third year of the equipment's life), the company'sExercise 10-07 a1-b2engineers reconsidered their expectations, and estimated that thePart Level Submission)Exercise 10-13 al-a2equipment's useful life would probably be 7 years (in total) insteadPart Level Submission)of 6 years. The estimated salvage value was not changed at that time.[Video)Problem 10-02A a1-bHowever, during 2023 the estimated salvage value was reduced to[Part Level Submission)$5,000.Problem 10-04A (Videoa Problem 10-064Indicate how much depreciation expense should be recorded each yearReview Scorefor this equipment, by completing the following table.ObjectiveMobile SiteDepreciationAccumulatedYearExpenseDepreciation20182019202020212022202202Click if you would like to Show Work for this question:Open Show WorkLINK TO TEXTVIDEO: SIMILAR PROBLEMQuestion Attempts: 0 of 3 usedSAVE FOR LATERSUBMIT ANSWER