Equipment was purchased at the beginning of 2016 for $740,00…
Equipment was purchased at the beginning of 2016 for $740,000. At the time of its purchase, the equipment was estimated to have a useful life of 6 years and a salvage value of $89,000. The equipment was depreciated using the straight-line method of depreciation through 2018. At the beginning of 2019, the estimate of useful life was revised to a total life of 8 years and the expected salvage value was changed to $57,000. The amount to be recorded for depreciation for 2019, reflecting these changes in estimates is