Equipment acquired on January 8, 20Y1, at a cost of $645,000, has an estimated useful life of 17 years and an estimated residual value of $77,400. a. What was the annual amount of depreciation for the years 20Y1, 20Y2, and 20Y3, using the straight-line method of depreciation? Round annual depreciation to the nearest dollar and use this amount in your follow-on calculations.