Problems (Show the work to get full points) asset on a straight-line basis with lady. Nanki revised the Nanki Corporation purchased equipment on January 1, 2014. for $650.000. In 2014 and 2015, Nanki depreciated the asset on a straight-line basis with an estimated useful life of eight years and a $10,000 residual value. In 2016, due to changes in technology. Nanki revised the useful life to a total of five years with $3,000 residual value. a What is the book value of equipment in the beginning of 2016? b. What depreciation would Nanki record for the year 2016 on this equipment? 22. Cutter Enterprises purchased equipment for $72,000 on January 1, 2016. The equipment is expected to have a five-year life and a residual value of $6,000. Using the sum-of-the-years-digits method, depreciation for 2016 and book value at December 31, 2016, would be