Question 8 6 pts On January 1, 2018, Romero Company purchased equipment for $265,000. The equipment was assigned a $7,000 residual value and a 16-year life. Romero Company will use the straight-line method to depreciate the equipment. On January 1, 2026, Romero Company spent $36,000 to overhaul the equipment. This capital expenditure resulted in Romero Company changing the life of the equipment from 16 years to 22 years and adjusting the residual value to be $4,000 at the end of the 22 years. Calculate the depreciation expense recorded on the equipment for 2026