On January 2, 2021, Oriole Enterprises reports balances in the Equipment account of $34,100 and Accumulated Depreciation—Equipment account of $8,660. The equipment had an original residual value of $1,860 and a 10-year useful life. Oriole uses straight-line depreciation for equipment. On this date, the company decides that the equipment has a remaining useful life of only 4 years with the same residual value. Calculate the revised annual depreciation.

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