Ward Company had the following excerpt from its financial records:

12/31/2017

12/31/2016

Equipment

$813,000 (2017)

$733,000 (2018)

Accumulated Depreciation

491,000 (2017)

476,000 (2018)

Book Value

$322,000 (2017)

$257,000 (2018)

The following information is taken from Ward Company's records:

Equipment was purchased during 2017 for $150,000 cash.

A gain on sale of equipment of $7,000 was recorded during 2017.

Equipment was sold during 2017 for $52,000.

Required:

Compute the amount of depreciation expense for 2017.