3 Equipment was acquired on January 1,2018, at a cost of $105,000. The equipment was...

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Accounting

3 Equipment was acquired on January 1,2018, at a cost of $105,000. The equipment was originally estimated to have a salvage value of $4,200 and an estimated life of 10 years. Depreciation has been recorded through December 31,2021, using the straight-line method. On January 1,2022, the estimated salvage value was revised to $6,000 and the useful life was revised to a total of 8 years.
Determine the depreciation expense for 2022.
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