Sunland Company purchased a machine on January 1,2019, for $70000 with an estimated salvage value of $15000 and an estimated useful life of 8 years. On January 1, 2021, Sunland decides the machine will last 12 years from the date of purchase. The salvage value is still estimated at $15000. Using the straight-line method, the new annual depreciation will be $4125. $4583. $5500. $5833