1) A private company in New York bought office furniture and equipment at a cost of $240,000. The total salvage value of these equipment is estimated to be 15% of the initial cost at the end of a depreciable life of 8 years. Determine the book value for this asset at the end of years 4 and 6. Sold after 6 with 70,000. What is the depreciation recapture? a) Straight Line Method