Schmaltz Cable operates a satellite receiver that was purchased on January 1, 2015 at a cost of $180.000. Schmaltz expected that the receiver would have a useful life of ten years, at the end of which its residual value would be $20,000. Schmaltz uses straight-line depreciation. On January 1, 2018. Schmaltz' engineer concluded that recent technological changes meant that the receiver's total useful life would only be eight years, after which its residual value would be zero. What is the balance of Depreciation Expense for year 2018? 2018 Depreciation Expense should be calculated based on the revised useful life and residual value of the satellite receiver. $20,000 $22,500. $16,500 $26,400