Kano Corporation is a global publisher of magazines, books, and music and video collections and is a leading direct mail marketer. Many direct mail marketers use high-speed Didde press equipment to print their advertisements. These presses can cost more than $1 million. Assume that Kano owns a Didde press acquired at an original cost of $350,000. It is being depreciated on a straight-line basis over a 20-year estimated useful life and has a $45,000 estimated residual value. At the end of the prior year, the press had been depreciated for a full six years. At the beginning of January of the current year, a decision was made, on the basis of improved maintenance procedures, that a total estimated useful life of 24 years and a residual value of $85,000 would be more realistic. The accounting period ends December 31 Required: 1-a. Compute the amount of depreciation expense recorded in the prior year. epreciation amount 1-b. Compute the book value of the printing press at the end of the prior year. Book value 2. Compute the amount of depreciation that should be recorded in the current year. (Round your answer to the nearest dollar amount.) epreciation amount