Farmer Company purchased equipment on January 1, 2015 for $121,000. The machines are estimated to have a 5-year life and a salvage value of $18,000. The company uses the straight-line depreciation method. At the beginning of 2018, Furst revised the expected life to elght years. The annual amount of depreciation expense for each of the remaining years would be: O $11,840 $7,400. $8,240. $5,150