On Jan. 1, 2016, ABC Corporation placed into service a refrigeration unit that had a capitalized cost of $45,000, a useful life of 16 years, and an estimated salvage value of $3,000. Depreciation expense was calculated as $2,625/yr using straight-line depreciation. On Jan. 1, 2021, ABC revises the refrigeration unit's salvage value to $5,000. What is the equipment's remaining depreciable cost after this change?