On July 1, 2019, Crane Company purchased new equipment for $75,000. Its estimated useful life was 5 years with a $8,000 salvage value. On December 31, 2022, the company estimated that the equipments remaining useful life was 10 years, with a revised salvage value of $5,000.

X Your answer is incorrect. Compute the revised annual depreciation on December 31, 2022. Revised annual depreciation $ 2310