W STANIRO TO Calculator An asset was purchased for $127,000 on January 1, Year 1 and originally estimated to have a useful life of 8 years with a residual value of $9,500. At the beginning of the third year, it was determined that the remaining useful life of the asset was only 4 years with a residual value of $2,000. Calculate the third-year depreciation expense using the revised amounts and straight-line method. a. $24,406.25 b. $22,906.25 c. $23,906.25 d. $24,906.25 Previous Next > All work saved. Submit Test for Grading