On January 1, the Cullumber Company ledger shows Equipment $54,600and Accumulated Depreciation $20,720. The depreciation resulted from using the straight-line method with a useful life of 10 years and a salvage value of $2,800. On this date, the company concludes that the equipment has a remaining useful life of only4years with the same salvage value.

The revised annual depreciation

My answer: 7250

Compute the revised annual depreciation.