On January 1, 20X5, Toquerville Company purchased equipment for $100,000. The equipment has a 10-year expected useful life and $0 residual value. Initially, the company used double-declining-balance depreciation. Two years later, on January 1, 20X7, the company changed to straight-line depreciation. The expected useful life and residual value are unchanged. Compute depreciation expense for 20X7, the year of the change. $8,000 $7,314 $9,217 $10,000