Crane Enterprises purchased equipment on March $15,2027,$ for $$88,000.$ The company also paid the following amounts: $$700$ for freight charges, $$300$ for insurance while the equipment was in transit, $$1,700$ for a one$-$year insurance policy, $$2,200$ to train employees on how to use the new equipment, and $$2,920$ for equipment testing and installation. The company began to use the equipment on April $1.$ Crane has estimated the equipment will have a $10-$year useful life with no salvage value. It expects to consume the equipment's economic benefits evenly over its useful life. The company has a December $31$ year$-$end. Using the straight$-$line method chosen above, calculate the depreciation on the equipment for $2027.($Round answer