On January 1, 2022, the Whispering Winds Corp. general ledger shows Equipment $27,950 and Accumulated Depreciation $9,700. The depreciation resulted from using the straight-line method with a useful life of 10 years and a salvage value of $3,700. On this date, the company concludes that the equipment has a remaining useful life of only 2 years with the same salvage value. Compute the revised annual depreciation. Revised annual depreciation $