Computing Depreciation with an Estimate Change Whitney Company purchases equipment on July 1 of Year 1 for $68,000. This equipnent has a useful life of five years and a residual value of s8.000. 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 sox years and adjusted the salvage value to s4,000. Compute depreciation expense for Year 3 : Note: Round your answer to the nearest whole dollar. Depreciation expense for Year 3:5 x