Construction Company purchases a depreciable asset for $100,000.The Estimated life was 15 years with an estimated residual value of $10,000. In year 7 , the estimates were revised as follows: - Estimated life remaining: total of 10 years - Estimated residual value: $15,000 What is the depreciation expense for the 7th year based on the straight-line method of depreciation? Answer: The correct answer is: 12250