The asset's book value is $68,300 on July 1 Year 3. On that date, management determines that the asset's salvage value should be $6.900 rather than the original estimate of $11.900. Based on this information, the amount of depreciation expense the company should recognize during the last six months of Year 3 would her The following information is available on a depreciable asset owned by Mutual Savings Bank Purchase date Purchase price Salvage value Useful life Depreciation method July 1, Year 1 $87,100 $11,900 8 years straight-line The asset's book value is $68,300 on July 1, Year 3. On that date, management determines that the asset's salvage value should be $6,900 rather than the original estimate of $11.900. Based on this Information, the amount of depreciation expense the company should recognize during the last six months of Year 3 would be