Red Pine Printers purchased equipment on January 1, 2019, for $250,000. The estimated residual value is $25,000,

Question:

Red Pine Printers purchased equipment on January 1, 2019, for $250,000. The estimated residual value is $25,000, and the estimated useful life is 15 years. Red Pine Printers uses the straight-line method for amortization of its equipment. On January 1, 2022, Red Pine Printers revised the useful life to be 9 more years rather than 12. How much amortization would be recorded on December 31, 2022?

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