Mays Corporation purchased a new truck on January 1, Year 1 for $78,000 cash. The salvage value was estimated to be $16,500 at the end of the useful life of 5 years. On January 1, Year 3, Mays had to replace the engine of the truck paying $10,500 cash. At that time. Mays estimates that the truck will continue a productive life for another four years. The company uses the straight-line method. Required: a) Calculate the depreciation expense for Year 3