$8.$ On March $31,2024,$ management of Quality Appliances committed to a plan to sell equipment. The equipment was available for immediate sale, and an active plan to locate a buyer was initiated. The equipment had been purchased on January $1,2022,$ for $$380,000.$ The equipment had an estimated six$-$year service life and residual value of $$50,000.$ The equipment was being depreciated using the straight$-$line method. Quality$$s fiscal year ends on December $31.$

$1.$ Calculate the equipment$$s book value as of March $31,2024.($Hint: Depreciation for $2024$ would include up to March $31.)$

$2.$ By December $31,2024,$ the equipment has not been sold, but management expects that it will be sold in $2025$ for $$234,000.$ For what amount is the equipment reported in the December $31,2024,$ balance sheet?