eBook Show Me How Print Item Disposal of Fixed Asset Equipment acquired on January 6 at a cost of $309,100 has an estimated useful life of 7 years and an estimated residual value of $40,300. a. What was the annual amount of depreciation for the Years 1-3 using the straight-line method of depreciation? Depreciation Expense Year Year 1 Year 2 Year 3 b. What was the book value of the equipment on January 1 of Year 4?