Machinery was purchased at the beginning of 2017 for $450,000. At the time of its purchase, the machinery was estimated to have a useful life of six years and a salvage value of $120,000. The machinery was depreciated using the straight-line method through 2019. At the beginning of 2020, the estimated useful life was revised to a total of eight years and the expected salvage value was changed to $83,000

The amount recorded for 2020 depreciation expense should be

Group of answer choices

$25,250

$57,000

$45,875

$40,400