Paul's Lodging Corporation purchased equipment on January 1, 2006 for $180,000. The equipment had an estimated useful life of 10 years and an estimated salvage value of $30,000. After using the equipment for 3 years, the company determined that the equipment could be used for an additional 9 years and still have a salvage value. Assuming Paul's Lodging Corporation uses straight-line depreciation, compute depreciation expense for the year ending December 31, 2009.

$11,667

$13,500

$15,000

$20,000