Cody Enterprises purchased equipment for $70,000. In addition, shipping charges of $800 were incurred to obtain the equipment. The company paid $5,000 to construct a foundation and install the equipment. The equipment is estimated to have a residual value of $5,800 at the end of its 5 year useful life. Use the information above to answer the following question. Using the straight-line method, what is the book value of the equipment at the end of the third full year of use? Multiple Choice $33400 22120 33.800 O $25,520