Required information [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: 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 efficiency $16,00e Routine repairs on the equipnent The equipment is being depreciated on a straight-line basis over an estimated life of 16 years with a $11,000 estimated residual value. The annual accounting period ends on December 31. 2. Starting at the beginning of the current year, what is the remaining estimated life