Answer:
Depreciation expense = $13,130
Book value = $46,740
Explanation:
Depreciation is a method of expensing the cost of an asset.
Depreciation expense using the straight line method = (Cost of asset - salvage value) / useful life
($73,000 - $7,350) / 5 = $13,130
The depreciation expense each year would be $13,130.
Book value = Cost of asset - Depreciation expense
In December 2021, the book value would be = $73,000 - $13,130 = $59,870
In December 2022, the book value would be = $59,870 - $13,130 = $46,740
I hope my answer helps you
