7. On January 1, 2014, Dachshund Company purchased new equipment for $750,000. The equipment had an estimated $60,000 salvage value at the end of its estimated ten-year useful life. Straight-line depreciation has been recorded. Before adjusting the accounts for 2019, Walker reduces the useful life of the equipment by one year and decreases the salvage value to $45,000 Required a. Calculate the 2019 depreciation expense. b. What is the equipment's book value at the end of 2019 after recording the 2019 depre expense