Your Company purchased equipment on January 1 for $75,000. The machines are estimated to have a 6-year life and a salvage value of $15,000. The company uses the straight-line depreciation method. At the beginning Year 4, Your Company spent $35,000 on a major overhaul and increased the expected life by five years. Salvage value became $9,000. What is the annual amount of depreciation expense for each of the remaining years? Round to match my answer if necessary. $9,500 $12,625 $8,875 $10,143 $7,625