On June 30, 2024, Rosetta Granite purchased equipment for $156,000. The estimated useful life of the equipment is eight years and no residual value is anticipated. An important component of the equipment is a specialized high-speed drill that will need to be replaced in four years. The $38,000 cost of the drill is included in the $156,000 cost of the equipment. Rosetta uses the straight-line depreciation method for all equipment. 2. Calculate depreciation for the years ended December 31,