Brief Exercise 8-7 (Algo) Revision of estimated useful life LO 8-7 On January 1, Year 1, Merry Berry Creamery purchased a machine that makes ice cream for $28,000. The machine had a five-year estimated life with a $2,300 salvage value. Straight-line depreciation was used. At the beginning of Year 3 , Merry Berry revised the expected life of the machine to seven years rather than five years. The salvage value was also revised to $1,300. Required: Compute the depreciation expense for each of the four years, Year 1 through Year 4