On January 1, 2019, the Novak Corp. ledger shows Equipment $45,000 and Accumulated DepreciationEquipment $9,600. The depreciation resulted from using the straight-line method with a useful life of 9 years and salvage value of $4,400. 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 $__________

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