on 1/6/2015 Equipment was purchased for $66,000. Freight charges amounted to $27,000 and there was a cost of $6,000 for building a foundation and installing the equipment. It is estimated that the equipment will have a $12,000 salvage value. Determine the book value of the equipment at the end of year 5 if the company is using the MACRS depreciation method, assuming it will be depreciated using a 10- year normal recovery period