On January 2,2023 , Bonzi Corporation acquired equipment for $600,000. The estimated life of the equipment is 5 years or 50,000 hours. The estimated residual value is $10,000. What is the book value of the asset on December 31,2024 , if Bonzi Corporation uses the straight-line method of depreciation? (Round any intermediary calculations to two decimal places and your final answer to the nearest dollar.) $600,000 $590,000 $364,000 $482,000