Williams Company purchased a machine costing $$32,700$ and is depreciating it over a $10-$year estimated useful

life with a residual value of $$3,700.$ At the beginning of the eighth year, a major overhaul on it was completed at a

cost of $$8,700,$ and the total estimated useful life was changed to $12$ years with the residual value unchanged.

How much is the Year $8$ depreciation expense assuming use of the straight$-$line depreciation method?

Multiple Choice

$$4,640.$

$$2,900.$

$$8,700.$

$$3,480.$