On January 2, 2021, Pharoah Enterprises reports balances in the Equipment account of $30,900 and Accumulated Depreciation Equipment account of $9,180. The equipment had an original residual value of $1,640 and a 10-year useful life. Pharoah uses straight-line depreciation for equipment. On this date, the company decides that the equipment has a remaining useful life of only 4 years with the same residual value. Calculate the revised annual depreciation. Revised annual depreciation $