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On January 1, 20X1, Emilys Boutique purchased equipment for $74,000 which is expected to have a 8-year useful life and a $4,000 salvage value. Using

On January 1, 20X1, Emilys Boutique purchased equipment for $74,000 which is

expected to have a 8-year useful life and a $4,000 salvage value. Using straight-line depreciation, what is book or carrying value of this equipment that will appear in the statement of financial position on December 31, 20X3?

a.$42,000

b. $44,000

c.$47,750

d.46,250

please show work thank you for helping me

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