Sheridan Company purchased a machine on January $1,2019,$ for $$54000$ with an estimated salvage value of $$12000$ and an estimated

useful life of $8$ years. On January $1,2021,$ Sheridan decides the machine will last $12$ years from the date of purchase. The salvage value is

still estimated at $$12000.$ Using the straight$-$line method, the new annual depreciation will be

$$4500.$

$$4200.$

$$3500.$

$$3150.$