On January 1, 2022, the Cullumber Company ledger shows Equipment $37,900 and Accumulated Depreciation $13,760. The depreciation resulted from using the straight-line method with a useful life of 10 years and a salvage value of $3,500. 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. The revised annual depreciation eTextbook and Media Save for Later