Save Answer Question 31 2.85714 points ECW, Inc. just opened a new factory, ECW purchased factory equipment for $600,000 on January 1. It is estimated that the equipment will have a $30,000 salvage value at the end of its estimated 10-year useful life. If the company uses the straight-line method of depreciation, the amount of annual depreciation recorded for the second year after purchase would be: $57,000 554,000 $114,000 560,000