On March 1, 20X1, Jack purchases office equipment for use in his business. The equipment cost $3,500 and has a 5-year (60-month) estimated useful life.

Calculate the depreciation expense for the following years, assuming the regular straight-line depreciation method (used for financial accounting purposes or for pre-1981 assets) is used.

In your computations round any division to two decimal places and round your final answers to the nearest dollar.

Year	Depreciation Deduction
20X1	$
20X2	$
20X3	$
20X4	$
20X5	$
20X6	$
Total	$