At the beginning of 2020, Flint Company acquired equipment costing $110.400. It was estimated that this equipment would have a useful life of 6 years and a salvage value of $11,040 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 2022 (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 2025 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. Year Depreciation Expense Accumulated Depreciation 2020 16560 2021 16560 2022 14194.29 16560 33120 47314,29 2023 9462.86 52045.72 2024 9462.86 61508.58 2025 6270.20 67778.78 2026 6270.20 74048.98