Equipment acquired on January 8 at a cost of $160,320 has an estimated useful life of 16 years, has an estimated residual value of $8,800, and is depreciated by the straight-line method. Question Content Area a. What was the book value of the equipment at December 31 the end of the fourth year? fill in the blank 1 of 1$ 122,440 Feedback Area Feedback Book value is the initial cost of the fixed asset minus the accumulated depreciation. Question Content Area b. Assuming that the equipment was sold on April 1 of the fifth year for $113,092. 1. Journalize the entry to record depreciation for the 3 months until the sale date. If