Wompus Inc. purchased a forklift costing $30,000 on January 1, 2018 and began straight line depreciation to a $3,000 residual value over a five-year life. On January 1, 2020, Wompus changed the estimated useful life to seven total years (five more) and changed the residual value to $5,000 What amount of Depreciation expense should wompus record for 2020