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Equipment with a cost of $79,697.00, an estimated residual value of $4,329.00, and an estimated life of 13 years was depreciated by the straight-line method

Equipment with a cost of $79,697.00, an estimated residual value of $4,329.00, and an estimated life of 13 years was depreciated by the straight-line method for 4 years. Due to obsolescence, it was determined that the remaining useful life should be shortened by 3 years and the residual value changed to zero. The depreciation expense for the current and future years is

Select the correct answer.

$9,417.81

$23,190.15

$4,346.68

$8,072.41

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