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Nautica Corporation purchased equipment on 1/1/19 for $650,000. In 2019 and 2020, Nautica depreciated the asset on a straight-line basis with an estimated useful life

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Nautica Corporation purchased equipment on 1/1/19 for $650,000. In 2019 and 2020, Nautica depreciated the asset on a straight-line basis with an estimated useful life of 8 years and a $10,000 residual value. On 1/1/21, due to changes in technology, Nautica revised the useful life to four more years with no residual value. What depreciation would Nautica record for the year 2021 on this equipment? $ 106,667 $122,500 $81,667 None of the other answers. $108,333

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