Accounting Depreciation

accounting straight line depreciation?

On January 1, 2007, the Ewing Company ledger shows Equipment $32,000 and Accumulated Depreciation $14,000. The depreciation resulted from using the straight line method with a useful life of 10 years and a salvage value of $2,000. 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.
How would you compute this? I looked in my book but am having trouble.

$32,000 – $14,000 = $18,000
($18,000 – $2000) / 2 yrs = $8000 Annual Depreciation Expense

FA 9 5 Declining Balance Depreciation

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