quipment acquired on January 6 at a cost of $298,100 has an estimated useful life of 8 years and an estimated residusi value of $38,900. 3. What was the annual amount of depreciation for Years 1-3 using the straight-line method of depreciation? b. What was the book value of the equipment on January 1 of Year 4 ? 1 c. Assuming that the equipment was sold on January 3 of Year 4 for $190,900, joumalize the entry to record the sale. If an amount box does not require an entry, lea it blank. d. Assuming that the equipment had been sold on January 3 of Year 4 for $204,900 instead of $190,900, joumalize the entry to record the sale. If an amount box does not require an entry, leave it blank