The following information is available on a depreciable asset owned by Mutual Savings Bank:

Purchase date	July 1, Year 1
Purchase price	$99,700
Salvage value	$10,600
Useful life	11 years
Depreciation method	straight-line

The asset's book value is $83,500 on July 1, Year 3. On that date, management determines that the asset's salvage value should be $5,600 rather than the original estimate of $10,600. Based on this information, the amount of depreciation expense the company should recognize during the last six months of Year 3 would be:

Multiple Choice

$2,096.93

$4,327.78

$1,869.44

$2,319.44

$2,163.89