7. ABC Company purchased equipment on January 1, 2009 for $70,000. It was estimated that the equipment would have a $5,000 salvage value at the end of its 5-year useful life. It was also estimated that the equipment would produce 100,000 units over its 5-year life. The company used the straight-line depreciation method. If 16,000 units of product were produced in 2009 and 24,000 units were produced in 2010, what was the book value of equipment at December 31, 2010?* (3 Points) $37.500 $26,000 $44,000 some other amount