Exercise 7-53 Revision of Depreciation On January 1, 2017, Blizzards-R-Us purchased a snow-blowing machine for $125,000. The machine was expected to have a residual value of $12,000 at the end of its 5-year useful life. On January 1, 2019, Blizzards- R-Us concluded that the machine would have a remaining useful life of 6 years with a residual value of $3,600. Required: Determine the revised annual depreciation expense for 2019 using the straight-line method.