Disposal of flued asset Equipment acquired on January 6 at a cost of $425,000has an estimated useful life of 20 years and an estimated residual value of $35,000 a. What was the annual amount of depreciation for Years 1-3 using the straight-line method of depreciation? 6. What was the bogk value of the equipment on January 1 of Year 4 ? c. Assuming that the equipment was sold on Janusry 3 of Year 4 for $360,000, fournalize the entry to record the sale. If an ameunt box does not require an entry, leave it blank. d. Assuming that the equipment was sold on January 3 of Year 4 for $370,000 instead of $360,000, joumalize the entry to record the sale. If an amount box does not require an entry, leave it blank