Popular Company utilizes a calendar year as its fiscal year and depreciates plant assets using the straight-line method. On January 2, 2024, the company purchased a delivery truck for $28,000 with a useful life of five years and an estimated residual value of $3,000. On January 1, 2028, the company decides to extend the useful life to seven years while decreasing the estimated residual value to $2,000. What amount will Popular report as depreciation expense for the year ended December 31, 2024? O $2,000 O $1,200 O $1,867 O $2,667