2 ment 1997 On January 1, 2018, Bridgeport Ltd. purchased equipment for $824,000. The equipment was assumed to have an 8-year uurful life and no residual value, and was to be depreciated using the straight-ine method. On January 1, 2020, Bridgeport's management became concerned that the equipment may have become obsolete. Management calculated that the undiscounted future net cash flows from the equipment was $592,250, the discounted future net cash flows was $525,300, and the current fair value of the equipment was $515,000 and the cost to sell was zero.