Kansas Enterprises purchased equipment for $$78,500$ on January $1,2024.$ The equipment is expected to have a ten$-$year service life, with a residual value of $$6,300$ at the end of ten years.

Using the straight$-$line method, the book value at December $31,2024,$ would be:

Multiple Choice

$$64,980$

$$70,650.$

$$72,200.$

$$71,280.$