Computing Depreciation with an Estimate Change Whitney Company purchases equipment on July 1 of Year 1 for $61,200. This equipment has a useful life of five years and a residual value of $7,200. The company uses the straight-line depreciation method. On January 1 of Year 3, the company extended the estimate of the total useful life to six years and adjusted the salvage value to $3,600. Compute depreciation expense for Year 3. Note: Round your answer to the nearest whole dollar. Depreciation expense for Year 3: $ x Check