The following information is available on a depreciable asset:

Purchase date	January 1, Year 1
Purchase price	$76,000
Salvage value	$10,000
Useful life	10 years
Depreciation method	straight-line

The asset's book value is $62,800 on January 1, Year 3. On that date, management determines that the asset's salvage value should be $5,000 rather than the original estimate of $10,000. Based on this information, the amount of depreciation expense the company should recognize during Year 3 would be: