Change in Accounting Estimate A company shows the following information for equipment purchased on January 1 of Year 1.

Useful life: 10 years
Residual value:	$5,200
Original cost:	$280,000
Depreciation method: Straight-line

On January 1 of Year 3, the company determined that the equipments life will only extend to a total of 8 years and the residual value is expected to be $1,200. Compute depreciation expense in Year 3. Note: Round your answer to the nearest whole dollar.