1. Disposal of Fixed Asset Equipment acquired on January 8, 20Y1, at a cost of $280,000, has an estimated useful life of 8 years and an estimated residual value of $30,000 What was the annual amount of depreciation for the years 20Y1, 20Y2, and 20Y3, using the straight-line method of depreciation? 31500 a. Depreciation expense 20Y1 20Y2 20Y3 b. What was the book value of the equipment on January 1, 20Y4