7) Equipment with a cost of $390,000 and estimated residual value of S60,000 is expected to have a useful life of 30,000 hours. During August, the equipment was operated 700 hours. What amount should be recorded as depreciation expense for the month? A) $7,700. B) S9,100. Learning Objective: 07-04 Calculate depreciation of property, plant, and equipment D) $8,400. C) $7,000. 8) A company purchased a delivery truck on January 1, 2021, for $100,000. The truck has an estimated life of 10 years and an estimated residual value of $10,000. If the company uses double-declining balance, what would be the book value of the truck after two years? A) S64,000. D) $54,000. B) $82,000. C) S76,000. Learning Objective: 07-04 Calculate depreciation of property, plant, and equipment