Question 22 At the beginning of Year 1 , ABC Company purchased a piece of equipment for $1,800. This equipment was expected to last 10 years at which time ABC hoped to sell the equipment for $600. At the beginning of Year 11 , ABC Company sold the equipment for $300. ABC Company uses the straight line depreciation method. What is the book value of this equipment at the end of Year 2 ? $960 $240 $1.560 $120 At the beginning of Year 1. ABC Company purchased a piece of equipment for $1,800. This equipment was expected to last 10 years at which time ABC hoped to sell the equipment for $600. At the beginning of Year 11, ABC Company sold the equipment for $300. ABC Company uses the straight line depreciation method. How much Depreciation Expense should ABC Company report in Year 2? 5960 $1,560 $120 $240