Mg9-402 Company purchased equipment costing $267,000 on January 1, 2029. The equipment was assigned an estimated useful life of ten years and an estimated salvage value of $11,000. The equipment will be depreciated using the straight-line depreciation method. On January 1, 2034, Mg9-402 Company revised the life of the equipment from 10 to 25 years with a salvage value of $6,300 at the end of the 25 years. Calculate the book value of the equipment at December 31, 2035