Sunland Snowboarding Company, a public company, purchased equipment on January 10,2020 , for $780,000. At that time, management estimated that the equipment would have a useful life of 10 years and a residual value of $50,000. Sunland uses the straight-line method of depreciation and has a December 31 year end. Sunland tested the equipment for impairment on December 31, 2024, after recording the annual depreciation expense. It was determined that the equipment's recoverable amount was $337,000, and that the total estimated useful life would be eight years instead of 10 , with a residual value of $10,000 instead of $50,000. (a) Calculate the annual depreciation expense for the years 2020 to 2024 and the carrying amount at December 31 , 2024