QUESTIONS Equipment was purchased at the beginning of 2013 for $204,000. At the time of its purchase, the equipment was estimated to have a useful life of six years and a residual value of $24,000. The equipment was depreciated using the straight-line method of depreciation through 2015. At the beginning of 2016, the estimate of useful life was revised to a total life of eight years and the expected residual value was changed to $15,000. The amount to be recorded for depreciation for 2016, reflecting these changes in estimates, is 1519,800 1. $12,375 W.322.800 1.523,625