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Lewiswhite Farms uses the sum-of-the-years-digits method of depreciation. A farm tractor costing $40,000 has an estimated life of ten years and an estimated scrap value

Lewiswhite Farms uses the sum-of-the-years-digits method of depreciation. A farm tractor costing $40,000 has an estimated life of ten years and an estimated scrap value of $1,000.

Refer to Lewiswhite Farms.Compute the book value at the end of the fourth year. (Round depreciation amounts to the nearest dollar.)

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