8. Fernbank Farms This company purchased a semitruck at the beginning of 2021 at a cost of $100,000. The truck had an estimated life of 5 years and an estimated residual value of $20,000 and will be depreciated using the straight-line method. On January 2023, the company made major repairs of $30,000 to the truck that extended its remaining useful life. Thus, starting with 2023, the truck has a remaining life of 5 years and a new salvage value of $8,000. What is the truck's book value at December 31, 2023?

8. Fernbank Farms This company purchased a semitruck at the beginning of 2021 at a cost of $100,000. The truck had an estimated life of 5 years and an estimated residual value of $20,000 and will be depreciated using the straight-line method. On January $ 2023 , the company made major repairs of $30,000 to the truck that extended its remaining useful life. Thus, starting with 2023 , the truck has a remaining life of 5 years and a new salvage value of $8,000. What is the truck's book value at December 31,2023