Mean Beans, a local coffee shop, has the following assets on January $1,2023.$ Mean Beans prepares annual financial statements and has a December $31,2023$ year$-$end. The company's depreciation policy is to use the straight$-$line method to depreciate its assets.

a$.$ On January $1,2023,$ purchase equipment costing $$20,500$ with an estimated life of five years. Mean Beans will scrap the equipment after five years for $$0.$

b$.$ On July $1,2023,$ purchase furniture $($tables and chairs$)$ costing $$16,400$ with an estimated life of ten years. Mean Beans estimates that it can sell the furniture for $$1,700$ after ten years.

c$.$ On January $1,2021,$ Mean Beans had purchased a car costing $$42,750$ with an estimated life of eight years. Mean Beans estimates that it can sell the car for $$8,550$ after eight years.