Dynasty Co. uses straight-line depreciation in its financial statements, with depreciation for a partial year rounded to the nearest month. On January 2, 2014, Dynasty purchased equipment at a cost of $140,000. For financial reporting purposes, the useful life of this equipment was estimated at 5 years, with a $30,000 salvage value. Compute the depreciation expense relating to this equipment that Dynasty will recognize in its financial statements in the following years. Year Amount 2014 2015