The lost value of equipment over a period of time is called depreciation. The simplest method for calculating depreciation is straight$-$line depreciation. The annual straight$-$line depreciation D of an item that costs $x$ dollars with a useful life of $n$ years is $D=(\frac{1}{n})x.$ Find the depreciation for items with the given characteristics.

Cost is $$15,961$; life is $11yr$

The annual straight$-$line depreciation is approximately $ $$ per year.

$($Round to the nearest cent.$)$