Question 1 2 pts Kansas Enterprises purchased equipment for $72,500 on January 1. The equipment is expected to have a five-year life, with a residual value of $7,050 at the end of five years. Using the straight-line method, the book value at end of year 1 would be Time Ru Attempt de 2 Hours $65.450 $58,000 $52.360 $59.410 rd Asset impairment occurs when future cash flows are less than Original cost Fair value Accumulated depreciation Book value