Equipment with a cost of $160,000, an estimated residual value of $40,000, and an estimated life of 15 years was depreciated by the straight-line method for 4 years. Due to obsolescence, it was determined that the remaining useful life should be 8 years (instead of 11) and the residual value changed to zero. The depreciation expense for the current and future years is $11,000 $16,000 $8.000 $11,636