UPenn Motors bought new equipment for $$1,250,000$ with an estimated useful life of seven years and an estimated residual value of $$65,000.$

a$.$ Calculate the amount of annual depreciation expense for year $3$

b$.$ Calculate the total amount of accumulated depreciation for this equipment at the end of year $3$

c$.$ Calculate the net book value of this equipment at the end of year $3$ as shown on the company's balance sheet