OBJ. 3 Equipment acquired on January 6, 2013, at a cost of $425,000, has an estimated useful EX 10-18 Disposal of fixed asset life of 16 years and an estimated residual value of $65,000 a. What was the annual amount of depreciation for the years 2013, 2014, and 2015 using the straight-line method of depreciation? b. What was the book value of the equipment on January 1, 2016? c. Assuming that the equipment was sold on January 3, 2016, for $340,000, journalize the entry to record the sale. d. Assuming that the equipment had been sold on January 3, 2016, for $372,500 instead of $340,000, journalize the entry to record the sale