January 1, Year 1, Lex Co. purchased equipment for $90,000. In addition to the purchase price, Lex paid $6,000 in sales tax, $1,600 in shipping costs, $3,000 in personnel training costs, and $2,400 in installation costs. The equipment has an estimated salvage value of $10,000 and a total estimated useful life of 10 years. Lex uses the straight-line method of depreciation and records depreciation expense annually. On January 1, Year 2, the estimated useful life was revis