16. $ During the first two years, SN, Inc., drove the truck 125,000 and 134,000 miles, respectively, to deliver merchandise to its customers. The company originally purchased the truck for $140,000. If the truck has an estimated life of 5 years or 500,000 miles, with an estimated residual value of $50,000, what amount of depreciation expense should SN record in the second year using the activity-based method? 17. $ JM Corporation purchased equipment at the beginning of 2015 for $475,000. In 2015, 2016 and 2017, JM depreciated the asset on a straight-line basis with an estimated useful life of 10 years and a $75,000 residual value. What is the BOOK VALUE of the equipment at the beginning of 2018?