On San. 1, 2014, a company placed into service a machine that had an atquisiton cost or $55,000, a saivage value of $5,000, and an estimated useful ifo of 12 years. On Jan. 1.2016, after two years of dopreciation, the company revised the estimaled useful hfe of the machine to 10 years. How much annual depreciation expensts ahould be recognized for 2016 , using straightine depreciation