Entity I purchased a machine on January 1, 2022 for $60,000. It was originally depreciated on a straight-line basis over three years with no salvage value. On December 31, 2023, before adjusting entries had been made, the company decided to change the remaining estimated useful life to 8 years (including 2023). What was the depreciation expense for 2023?

		$2,500.
		$20,000.
		$5,000.
		$750.