Date purchased: July 1, year 1

Purchase Price: $90,500

Salvage Value: $10,500

Useful life: 10 years

Depreciation method: Straight line

The asset's book value is $74,000 on June 1, Year 3. On that date, management determines that the asset's salvage value should be $5,500 rather than the original estimate of $10,000. Based on this information, the amount ofdepreciation expensethe company should recognize during the last six months of Year 3 would be