OBJ. 2 p 495 Straight-line depreciation PE 10-18 Equipment acquired at the beginning of the year at a cost of $340,000 has an estimated residual value of $45,000 and an estimated useful life of 10 years. Determine (a) the depreciable cost, (b) the straight-line rate, and (e) the annual straight-ine depreciation. EE 10-1 EX 10-18 Disposal of fixed asset Equipment acquired on January 6 at a cost of $375,000 has an estimated useful life of 20 years and an estimated residual value of $25,000 a. What was the annual amount of depreciation for the Years 1-3 using the straight-line OBJ. 3 method of depreciation? b. What was the book value of the equipment on January 1 of Year 4? c. Assuming that the equipment was sold on January 3 of Year 4 for $300,000, journalize the entry to record the sale. d. Assuming that the equipment had been sold on January 3 of Year 4 for $325,000 instead of $300,000, journalize the entry to record the sale