ACCOUNTING PROBLEM: how do you find book value?

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Equipment acquired on January 3, 2005, at a cost of $360,000, has an estimated useful life of 12 years, has an estimated residual value of $30,000, and is depreciated by the straightline method.

For a compound transaction, accounts should be listed in chart of account order.


a. What was the book value of the equipment at December 31, 2008, the end of the fiscal year?
 
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