Change in Estimated Useful Life Finn Corporation purchased a machine on July 1, 2012, for $225,000. The machine was estimated to have a useful life of 12 years with an estimated salvage value of...

Change in Estimated Useful Life Finn Corporation purchased a machine on July 1, 2012, for $225,000. The machine was estimated to have a useful life of 12 years with an estimated salvage value of $15,000. During 2015, it became apparent that the machine would become uneconomical after December 31, 2019, and that the machine would have no scrap value. Finn uses the straight-line method of depreciation for all machinery. What should be the charge for depreciation in 2015 using the new estimates for useful life and salvage value?