Sholpan Company purchased a machine for $90,000. The machine had an estimated residual value of $6,000 and an estimated useful life of 8 years. After two full years of experience with the machine, it was determined that its total useful life would be only 5 years instead of 8. The estimated residual value remains unchanged at $6,000. Compute depreciation expense for the third year. Sholpan Company uses straight-line depreciation.