Caudle Company purchased an equipment on January 1, 2017, for $102,750. At the time of purchase, the equipment was estimated to have a life of six years and a residual value of $6,750. On January 1, 2019, the company revised the total useful life of the equipment to seven years and its residual value to $4,500. If the company uses the straight-line method of depreciation, what will be the depreciation expense for the equipment in 2019? $16,000 $9,464 $10,050 $13,250