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: Manufacturing equipment Accumulated depreciation through 2019 $ 145,000 44,100 During 2020, the following expenditures were incurred for the equipment: Major overhaul of the equipment on January 2, 2020, that improved efficiency Routine maintenance and repairs on the equipment $ 13,000 1,800 The equipment is being depreciated on a straight-line basis over an estimated life of 20 years with a $19,000 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? Remaining life years