Practice Do It! Review 01

Practice Do It! Review 01 Sheffield Corp. purchased a piece of equipment for $73,800. It estimated an 8-year life and a $3,200 salvage value. At the end of year four (before the depreciation adjustment), it estimated the new total life to be 10 years and the new salvage value to be $24,425. Compute the revised annual depreciation. (Round answer to 0 decimal places, e.g. 5,275.) Revised annual depreciation $