Blossom Snowboarding Company, a public company, purchased equipment on January 10,2020 , for $820,000. At that time, management estimated that the equipment would have a useful life of 10 years and a residual value of $50,000. Blossom uses the straight-line method of depreciation and has a December 31 year end. Blossom tested the equipment for impairment on December 31,2024 , after recording the annual depreciation expense. It was determined that the equipment's recoverable amount was $352,000, and that the total estimated useful life would be eight years instead of 10 , with a residual value of $10,000 instead of $50,000. (a) Your answer is correct. Calculate the annual depreciation expense for the years 2020 to 2024 and the carrying amount at December 31,2024. What will appear on Blossom's 2024 balance sheet with regard to this equipment