Change in Estimates. On January 1, 2018, Hogan Manufacturing Co. purchased equipment for $400,000. The company expects the equipment to be in use for 6 years, and to have a salvage value of 10% of the original cost at the end of its useful life. At the beginning of 2020, Hogan revised its estimate of the equipments useful life from 6 years to a total of 10 years, and also at that time reduced the estimated salvage value to zero. The company uses the straight-line depreciation method. Compute depreciation expense for 2020