Answer:
$210,000
Explanation:
Straight line depreciation expense = (Cost of asset - Salvage value) / useful life
( $360,000 - $60,000) / 8 = $37,500
Depreciation expense each year of the useful life would be $37,500.
Book value in 2023 = Cost of asset - accumulated deprecation
There are 4 years between January 1, 2019 and January 1, 2023.
Accumulated depreciation = $37,500 x 4 = $150,000
Book value = $360,000 - $150,000 = $210,000
I hope my answer helps you
