On March 31, 2024, management of Quality Appliances committed to a plan to sell equipment. The equipment was available for immediate sale, and an active plan to locate a buyer was initiated. The equipment had been purchased on January 1, 2022, for $660,000. The equipment had an estimated six-year service life and residual value of $120,000. The equipment was being depreciated using the straight-line method. Qualitys fiscal year ends on December 31. Required: Calculate the equipments book value as of March 31, 2024. (Hint: Depreciation for 2024 would include up to March 31.) By December 31, 2024, the equipment has not been sold, but management expects that it will be sold in 2025 for $430,000. For what amount is the equipment reported in the December 31, 2024, balance sheet?