Challenge Problem - Part 1 of 2: Keen Co. purchased machinery on January 1, 2016, for $450,000. The straight-line method is used and the useful life is estimated to be 5 years, with a $30,000 residual value. At the beginning of 2019, Keen Co. spent $20,000 to overhaul the machinery. After the overhaul, Keen estimated that the useful life would be extended 2 years (7 years total), and the residual value would be $20,000. How much depreciation expense will Keen Co. record for 2019