Cutter Enterprises purchased equipment for $72,000. The equipment is expected to have a 5-year life and a residual value of $6,000. Cutter uses the double-declining method to estimate depreciation. Assume that the following information is true for year 4:

Year Beginning NBV Depreciation Exp. Accum. Deprec. Ending NBV

4 $15,552 $6,221 $62,669 $9,331

How much annual depreciation expense should Cutter record for year 5?