On January $1,2022,$ the Pharoah Company general ledger shows Equipment $$20,550$ and Accumulated Depreciation $$9,000.$ The depreciation resulted from using the straight$-$line method with a useful life of $7$ years and a salvage value of $$4,800.$ On this date, the company concludes that the equipment has a remaining useful life of only $2$ years with the same salvage value.

Compute the revised annual depreciation.

Revised annual depreciation

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