On January 1, 2022, the Sandhill Co. ledger shows Equipment $37,800 and Accumulated Depreciation $14,240. The depreciation resulted from using the straight-line method with a useful life of 10 years and a salvage value of $2,200. 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

$enter the revised annual depreciation in dollars