A machine that cost $360,000 has an estimated residual value of $40,000 and an estimated useful life of four years. The company uses straight-line depreciation. Calculate its book value at the end of year 3. (Do not round intermediate calculations.) Answer is complete but not entirely correct. Book Value $ 130,000 1 of 3 Next > e to search The following are the transactions of Morrell Corporation: a. Morrell Corporation disposed of two computers at the end of their useful lives. The computers had cost $4,480 and their Accumulated Depreciation was $4,480. No residual value was received. b. Assume the same information as (a), except that Accumulated Depreciation, updated to the date of disposal, was $2,960. Prepare journal entries to record above transactions. (If no entry is required for a transaction/event, select "No Journal Entry Required" in the first account field.) View transaction list Journal entry worksheet B Record the disposal of computers that had cost $4,480 and their accumulated depreciation to the date of disposal was $4,480. Note: Enter debits before c 2 of 3 Next to search