Pharoah Snowboarding Company, a public company, purchased equipment on January 10, 2017. for $650,000. At that time, management estimated that the equipment would have a useful life of 10 years and a residual value of $50,000. Pharoah uses the straight-line method of depreciation and has a December 31 year end. Pharoah tested the equipment for impairment on December 31, 2021, after recording the annual depreciation expense. It was determined that the equipment's recoverable amount was $286,000, and that the total estimated useful life would be eight years instead of 10, with a residual value of $10,000 instead of $50,000. Your answer is partially correct. Calculate the annual depreciation expense for the years 2017 to 2021 and the carrying amount at December 31, 2021. Depreciation Expense Carrying Amount 2017 S 60000 $ 2018 $ 2019 $ 2020 $ $ L