Required information E8-7 (Algo) Recording Depreciation and Repairs (Straight-Line Depreciation) L08-2, 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 the current year, an asset account for the company showed the following balances: Manufacturing equipment Mecumulated depreciation through the end of last year $159,000 63,900 During the current year, the following expenditures were incurred for the equipment: Major overhaul of the equipment on January 2 the current year that improved eftieiency Routibe repairs on the equipment $8,000 2,000 The equipment is being depreciated on a straight-line bosis over an estimated life of 20 years with a $17,000 estimated residual value. The annual accounting period ends on December 31. E8-7 Part 2 2. Starting at the beginning of the current year, what is the remaining estimated life