On January 1, 2019, the Vasquez Company ledger shows Equipment $32,000 and Accumulated Depreciation $9,000. The depreciation resulted from using the straight-line method with a useful life of 10 years and salvage value of $2,000. On this date the company concludes that the equipment has a remaining useful life of 4 years and a $1,000 salvage value. Compute the revised annual depreciation.

Answer$________________________