Equipment acquired on January $9,2015,$ at a cust $01$$$451,000,$ mas an escimated useful life of $15$ years, an estimated residual value of $$88,380,$ and is depreciated by the

straight$-$line method.

a$.$ What was the book value of the equipment at the end of the fifth year, December $31,20Y7?$ Round your interim calculations and final answer to the nearest dollar.

$

Enter account decreases, cash outflows, and the income statement effects that decrease net income as negative amounts. However, for contra asset

accounts, enter account increases as a negative value. Round annual depreciation to the nearest dollar and use this amount in your follow$-$on

calculations. If no account or activity is affected, select $"$No effect" from the dropdown and leave the corresponding number entry box blank.

b$1.$ Assuming that the equipment was sold on July $1,20Y8,$ for $$147,300,$ illustrate the effects on the accounts and financial statement of depreciation for the six

until the sale date.

Financial Statement Effects

Balance Sheet

b$2.$ Assuming that the equipment was sold on July $1,20Y8,$ for $$147,300,$ illustrate the effects on the accounts and financial stateme of the sale