Your Company purchased equipment on January 1, of Year One for $650,000. The machines were estimated to have a 7-year life and a salvage value of $25,250. The company uses the straight-line depreciation method. At the beginning of Year 4, Your Company spent $110,000 on a major renovation. As a result, the expected life was increased by four years and salvage was estimated to be $20,000. What is the annual amount of depreciation expense for each of the remaining years?