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April 5: New construction equipment was purchased for the project at the golf course for $120,000. The forklifts have a useful life of seven years. The company already owned $50,000 of construction equipment prior to this purchase with an accumulated depreciation of $22,000.

June 14: A forklift is disposed of that had a book value of $7,500 and accumulated depreciation of $5,200.

June 30: Book the depreciation for the first half of the year on the construction equipment you purchased April 5.