Bensen Company began operations when it acquired $$60,000$ cash from the issue of common stock on January $1,$ Year $1.$ The cash acquired was immediately used to purchase equipment for $$50,000$ that had a $$10,000$ salvage value and an expected useful life of four years. The equipment was used to produce the following revenue stream $($assume all revenue transactions are for cash$).$ At the beginning of the fifth year, the equipment was sold for $$8,800$ cash. Bensen uses straight$-$line depreciation.

Year $1$ Year $2$ Year $3$ Year $4$ Year $5$

Revenue $ $26,100$ $ $28,500$ $ $32,000$ $ $31,300$ $ $0$