Question 10 (1 point) On January 1, year 1, ABC. Ltd. purchased a piece of equipment for $ 400000 plus installation costs of $ 45000 that were necessary to make the equipment operational. ABC. Ltd. uses the double declining balance method. The piece of equipment is expected to have a useful life of 18 years at which time it will have a residual value of $ 20000. What is the book value of the equipment as of December 31, year 2. Round your answer to the nearest dollar. a Your