The lost value of equipment over a period of time is called depreciation. The simplest method for calculating depreciation is straight-line depreciation. The annual straight-line depreciation D of an item that costs x dollars with a useful life of n years is D (1/n)x. Find the depreciation for item S with the given characteristics. Cost is $15, 958; life is 17 yr The annual straight-line depreciation is approximately per year (Round to the nearest cent.)