Determining fixed asset's book value The balance in the equipment account is $3,850,000, and the balance in the accumulated depreciation equipment account is $2,079,000. 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. X 1 Open spreadsheet a. What is the book value of the equipment? Round your answer to the nearest dollar. 5 b. Does the balance in the accumulated depreciation account mean that the equipment's loss of value is $2,079,000? because depreciation is an allocation of the of the equipment to the periods benefiting from its use