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Wildhorse Company purchased a hot tub for $9,395 on January 1, 2016. Straight-line depreciation is used, based on a 6-year life and a $1,505 salvage

Wildhorse Company purchased a hot tub for $9,395 on January 1, 2016. Straight-line depreciation is used, based on a 6-year life and a $1,505 salvage value. In 2018, the estimates are revised. Wildhorse now feels the hot tub will be used until December 31, 2020, when it can be sold for $705. Compute the 2018 depreciation.

Depreciation expense, 2018

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