On April $2,$ Year $1,$ Victor, Incorporated acquired a new piece of filtering equipment. The cost of the equipment was $$480,000$ with a residual value of $$30,000$ at the end of its estimated useful lifetime of $4$ years. Victor uses a calendar year$-$end for financial reporting.

If Victor uses straight$-$line depreciation with the half$-$year convention, the book value of the equipment at December $31,$ Year $2$ will be:

Multiple Choice

$$337,500.$

$$311,250.$

$$300,000.$

$$255,000.$