On January 1, 2021, Affinity Corp. purchased equipment that cost $70,000. The equipment has an estimated useful life of ten years and an estimated salvage value of $10,000. Affinity uses the straight-line method to depreciate the equipment. On January 1 2023, management reassess the useful life and salvage value of this equipment and determined that the equipment will last for only four more years, and that at the end of its useful life, the salvage value will be $6,000. What amount of depreciation expense should the company report in Year 3? a. $13,000 b. $14,000 c. $10,500 d. $10,667