On 1 January 2013, a company which prepares financial statements to 31 December each year buys an item of equipment for $20,000. Useful life is estimated to be six years and residual value is expected to be approximately $1,500. The company uses the diminishing balance method of depreciation at a rate of 35% per annum. To the nearest pound, the depreciation of this item for the year to 31 December 2014 would be: