REVISION OF DEPRECIATION
On January 1, 2007, Blizzards-R-Us purchased a snow-blowing machine for $85,000. The machine was expected to have a residual value of $5,000 at the end of its five-year useful life. On January 1, 2009, Blizzards-R-Us concluded that the machine would have a remaining useful life of six years with a residual value of $800.
Required:
Determine the revised annual depreciation expense for 2009.