If the owner of a new company contributed their computer they purchased 2 years ago for $2500 and has an estimated useful life of 5 years with no residual value, they contributed it to their own business which will begin on April 1st. However they found out before hand that the market value for the computer is 400, and can be used for another 3 years. How would we journalize their contribution on April 1st?

DR. Computer Equipment ???

CR. Shareholders Equity ???

and what amount would amortization be at the end of April?