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On March 1, 20X3, ABC Co. purchased equipment for $75,000 with an estimated 5-year life and a salvage value of $5,000 at the end of

On March 1, 20X3, ABC Co. purchased equipment for $75,000 with an estimated 5-year life and a salvage value of $5,000 at the end of the asset's estimated life. ABC Co. uses straight-line depreciation with a half-year convention. What is the book value of this equipment on December 31, 20X7? a. $14,000 b. $5,000 c. $12,000 d. $7,000

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