Carla Vista Optical Ltd. purchased optical lens coating equipment for $93,500 on January 1,2024 . At that time, management determined that the equipment would have a useful life of five years and a residual value of $19,200. Carla Vista uses the straight-line depreciation method. On January 1, 2027, management revised its initial estimates and determined that the lens coating equipment would have a useful life of eight years, rather than five years, and that it would have a residual value of $12,700 at the end of that time. Determine the depreciation expense for 2027. Depreciation expense for 2027$