Nanki Corporation purchased equipment on January 1, 2014, for $661,000. In 2014 and 2015, Nanki depreciated the asset on a straight-line basis with an estimated useful life of eight years and a $5,000 residual value. In 2016, due to changes in technology, Nanki revised the useful life to a total of 5 years with no residual value. What depreciation would Nanki record for the year 2016 on this equipment? (Round your answer to the nearest dollar amount.) Multiple Choice 0 None of these answer choices are correct. 0 $109,333 $109,333. 0 $110,382. 0 $165,667