Riverbed Industries purchases $112,900 of machinery on January 1,2021 . The machinery is expected to have a 5 year useful life and a residual value of $12,700. On January 1,2024 , management determines that the equipment will last for an additional 2 years and the new residual value is $5,900. Riverbed uses straight-line depreciation and has a calendar year end. Calculate the depreciation expense related to this piece of machinery and determine the carrying value of the machinery on December 31, 2024. $ Carrying Value $