Required information E8-7 (Algo) Recording Depreciation and Repairs (Straight-Line Depreciation) LO8-2, 8-3 [The following information applies to the questions displayed below.] Hulme Company operates a small manufacturing facility as a supplement to its regular service activities. At the beginning of 2020 , an asset account for the company showed the following balances: During 2020, the following expenditures were incurred for the equipment: The equipment is being depreciated on a straight-line basis over an estimated life of 20 years with a $16,000 estimated residual value. The annual accounting period ends on December 31 . E8-7 Part 2 2. Starting at the beginning of 2020 , what is the remaining estimated life