Suppose a company's depreciation expense in years 2 and 3 was $6,708 and $6,904 respectively. Also suppose that the gross depreciable assets had a balance of $107,600 at the end of year 1, $108,692 at the end of year 2, and $109,794 at the end of year 3. If the gross depreciable assets will grow by 4.74% in year 4, calculate the forecasted depreciation expense for year 4. Assume the same average useful life of the total gross depreciable assets in all future years as that in year 3, where the average useful life is calculated using the average asset balances and nil residual values. Note that year 3 is the latest year with reported results, while years 4 onwards are all forecasted years.