Liestion 7 (1 point) On January 1, year 1, ABC. Ltd. purchased a piece of equipment for $ 200000 plus Installation costs of $ 75000 that were necessary to make the equipment operational. ABC. Ltd. uses the double declining balance method. The piece of equipment is expected to have a useful life of 16 years at which time it will have a residual value of $ 30000. What is the book value of the equipment as of December 31, year 3. Round any value to two decimal places in intermediate steps and round your final answer to the nearest dollar. Your Answer: Answer Question 8 (1 point) Vintage Car Warranties Inc. offers warranties on recently restored classic cars. At the end of 2020, Vintage Car Warranties Inc. had deferred warranty revenue of $ 72000. During 2021, Vintage Car Warranties Inc. signed new warranty contracts for $ 25000. At the end of 2021, Vintage Car Warranties Inc. had deferred warranty revenue of $ 49000. How much revenue would Vintage Car Warranties Inc. recognize from its warranty contracts during 2021? Your