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On January 1 , 2 0 2 2 , the Pronghorn Company ledger shows Equipment $ 3 4 , 5 6 0 and Accumulated Depreciation

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On January 1,2022, the Pronghorn Company ledger shows Equipment $34,560 and Accumulated Depreciation $9,720. The depreciation resulted from using the straight-line method with a useful life of 10 years and a salvage value of $2,160. On this date, the company concludes that the equipment has a remaining useful life of only 4 years with the same salvage value.
Compute the revised annual depreciation.
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