Determining fixed asset's book value The balance in the equipment account is $5,000,000, and the balance in the accumulated depreciation-equipment account is $2,700,000. This information has been collected in the Microsoft Excel Online file. Open the spreadsheet, perform the required analysis, and input your answers in the questions below. Open spreadsheet a. What is the book value of the equipment? Round your answer to the nearest dollar. b. Does the balance in the accumulated depreciation account mean that the equipment's loss of value is $2,700,000? because depreciation is an allocation of the of the equipment to the periods benefiting from its use