has the following equipment recorded in the appropriate accounts. Ames uses a calendar year as its

fiscal year.

A forge purchased January 1, Year 1 for $100,000. Installation costs were $20,000, and the

forge has an estimated 5-year life with a salvage value of $10,000.

A grinding machine costing $45,000 purchased January 1, Year 2. The machine has an

estimated 5-year life with a salvage value of $5,000.

A lathe purchased January 1, Year 4 for $60,000. The lathe has an estimated 5-year life with a

salvage value of $7,000.

Using the sum-of-the-years'-digits method, Ames' Year 4 depreciation expense (rounded to the

nearest dollar) is