Exercise 6-14 Revision of estimated useful life LO 6-5 On J anuary 1, 2014, Muoy Machining Co. purchased a compressor and related installation equipment for $69,900. The equipment had a three-year estimated life with a $3,000 salvage value. Straight-line depreciation was used. At the beginning of 2016, Muoy revised the expected life of the asset to four years rather than three years. The salvage value was revised to $2,000 Required Compute the depreciation expense for each of the four years Depreciation Expense 2014 2015 2016 2017