Equipment with a cost of $76,244, an estimated residual value of $5,601, and an estimated life of 15 years was depreciated by the straight-line method for 7 years. Due to obsolescence, it was determined that the remaining useful life should be shortened by 5 years and the residual value changed to zero. The depreciation expense for the current and future years is Do not round your intermediate calculations.
a. $14,425.76
b. $2,885.15
c. $3,606.44
d. $32,966.73