Question 4 of 7 - 71 III View Policies Current Attempt in Progress Healthlabs Ltd. purchased lab equipment for $28,200 on January 1, 2020. At that time, management determined that the equipment would have a useful life of three years with no residual value and that the straight-line depreciation method would be used. On January 1, 2021, management revised its initial estimate and determined that the company would be able to use the lab equipment for a total of five years. Determine the depreciation expense for 2021. Depreciation expense for 2021 $ e Textbook and Media Save for Later Attempts: 0 of 5 used Submit