On January 2, Year 1, Clark Company purchased equipment costing $28,800. The equipment has an estimated salvage value of $2,160 and an estimated useful life of 12 years. Clark Company uses straight-line depreciation. On January 5 of Year 6, new information suggests that the equipment will have a total useful life of 11 years and a revised salvage value of $1,440. Required: 1. Compute depreciation expense for Year 6. 2. Compute the book value of the equipment at the end of Year 6. 1. Depreciation expense for Year 6: 2. Book value at the end of Year 6: $ 1 X