Current Attempt in Progress Oriole Industries purchased equipment at a cost of $105,600 on January...
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Current Attempt in Progress Oriole Industries purchased equipment at a cost of $105,600 on January 1, 2019. At the time the equipment was estimated to have a useful life of 20 years and a residual value of $17,600. On January 1, 2022 Oriole revised the useful life to a total of 26 years from date of purchase and also revised the residual value to $14,000. Oriole has a calendar year end. Oriole uses straight-line method of depreciation. Calculate the depreciation expense for the equipment for 2022. (Round answer to 0 decimal places, e.g. 5,275.) Depreciation Expense $ /year
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