Kewpie Company purchased a Van for $180,000. The machine had an estimated residual value of $12,000 and an estimated useful life of 10 years. After two full years of experience with the machine, it was determined that its total useful life would be only 5 years instead of 10. The estimated residual value remains unchanged at $12,000. Compute depreciation expense for the third year. Kewpie Company uses straight-line depreciation. $29,280 $10,500 $18,000 $36,000 $16,800 $44,800