Current Attempt in Progress

On July $1,2023,$ Concord Company purchased factory equipment for $$676000$ with an estimated salvage value of $$32000.$ The

estimated useful life for the equipment is $10$ years. During $2023,2024,$ and $2025$ the equipment is depreciated using the straight$-$line

method. During $2026,$ $$95000$ is spent to improve the equipment's efficiency and prolong its useful life. The new useful life is expected

to be $10$ years beginning in $2026$ and the revised salvage value is $$46200.$ What is depreciation expense on the equipment for $2026?$

$$56380$

$$64400$

$$50080$

$$32200$