On April 3, 2014, Finnbar Equipment purchased a machine for $71,200. It was assumed that the machine would have a five-year life and a $15,200 trade-in value. Early in January of 2017, it was determined that the machine would have a seven-year useful life and the trade-in value would be $8,000. Finnbar uses the straight-line method to the nearest month for calculating depreciation.
Record depreciation at December 31, 2017, Finnbar’s year-end. Round to the nearest whole dollar.