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On January 1, 2020, the Concord SA ledger shows Equipment 48,000 and Accumulated Depreciation-Equipment 9,700....

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On January 1, 2020, the Concord SA ledger shows Equipment 48,000 and Accumulated Depreciation-Equipment 9,700. The depreciation resulted from using the straight-line method with a useful life of 10 years and residual value of 4,100. On this date, the company concludes that the equipment has a remaining useful life of only 4 years with the same residual value. Compute the revised annual depreciation. Revised annual depreciation

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