On January 1, 2014, the Vasquez Company ledger shows Equipment $48,100 and Accumulated Depreciation-Equipment $10,280. The depreciation resulted from using the straight-line method with a useful life of 12 years and salvage value of $2,820. 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. Revised annual depreciation $