Current Attempt in Progress Wildhorse Snowboarding Company, a public company, purchased equipment on January 10, 2017 for $700,000. At that time, management estimated that the equipment would have a useful life of 10 years and a residual value of $50.000. Wildhorse uses the straight-line method of depreciation and has a December 31 year end. Wildhorse tested the equipment for impairment on December 31, 2021, after recording the annual depreciation expense. It was determined that the equipment's recoverable amount was $304,000, and that the total estimated useful life would be eight years instead of 10, with a residual value of $10.000 instead of $50.000, (a) X Your answer is incorrect Calculate the annual depreciation expense for the years 2017 to 2021 and the carrying amount at December 31, 2021. Depreciation Expense 162500 Carrying Amount 537500 $ $ 2017 2018 $ $