1. PQR Company used straight-line depreciation for a piece of equipment that cost $12,000,

had a residual ( salvage ) value of $2,000, and a five-year service life. At the end of the third year, the residual value was revised to $1,200 and the useful life increased (by one year) to a total of 6 years. The amount of depreciation expense for each of the remaining years of the asset's useful life is:

A) $1,000

B) $1,467

C) $2,160

D) $1,800

E) $1,600