Revision of Depreciation On January 1, Slade Inc- purchased a machine for $90,000. Slade depreciated the machine with the straight-line depreciation method over a useful life of 10 years, using a residual value of $4,000. After using the machine for 2 years, a major overhaul, costing 535,000 , was made, After the overhauf, the machine's residual value is estimated to be $2,500, and the machine is expected to have a remaining useful life of 12 years. Required: Determine the annual depreciation expense after the overhaul. x