On December 31, 2014, Arleen Company enters into a ten-year finance lease agreement for an equipment with Rappel Corporation which requires an annual payment of $80,000, beginning December 31, 2014. The useful life of the machine is ten years. Arleen uses the straight-line depreciation method. Assuming an interest rate of 8 percent per year, determine the amount of depreciation expense recorded by Arleen on December 31, 2015.