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Current Attempt in Progress Healthlabs Ltd. purchased lab equipment for $28,500 on January...

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Accounting

Current Attempt in Progress
Healthlabs Ltd. purchased lab equipment for $28,500 on January 1,2020. At that time, management determined that the equipment would have a useful life of three years with no residual value and that the straight-line depreciation method would be used. On January 1,2021, management revised its initial estimate and determined that the company would be able to use the lab equipment for a total of five years.
Determine the depreciation expense for 2021.
Depreciation expense for 2021$
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