On January 1, 2015, the Morgantown Company ledger shows equipment $65,000 and Accumulated Depreciation-Equipment $10, 780. The depreciation resulted from using the straight-line method with a useful life of 10 years and salvage value of $4, 380. On this data, the company conclusion that the equipment has a remaining useful life of only 3 years with the same salvage value. Compute the revised annual depreciation