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Corazn Espinada Company purchased equipment on January 1, 2021 with the following details: Purchase price: $70,000 Salvage value: $20,000 Useful life: 8 years If the

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Corazn Espinada Company purchased equipment on January 1, 2021 with the following details: Purchase price: $70,000 Salvage value: $20,000 Useful life: 8 years If the straight line method of depreciation is used, what is the book value of the tractor at December 31, 2021 after recording depreciation expense for the first year? $43,750 $61.250 541.250 $63,750

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