Compute the balance in Accumulated Depreciation-Equipment for this equipment after depreciation expense has been recorded on December 31,2022 Accumulated Depreciation-Equipment On July 1, 2019, Crane Company purchased new equipment for $80,000. Its estimated useful life was 5 years with a $12,000 salvage value. On December 31,2022 , (before calculating annual depreciation) the company estimated that the equipment's remaining useful life was 10 years, with a revised salvage value of $5,000