The Lowell Merchandising Corporation purchased $240000 of display equipment on J

The Lowell Merchandising Corporation purchased $240000 of display equipment on January 1 2009. The equipment was expected to have a six year useful life after which it could be sold for $18000.For the year ended December 31 2009 the Lowell Merchandising Corporation reported display equipment depreciation expense of $40000. For the year ended December 31 2010 the Lowell Merchandising Corporation reported display equipment depreciation expense of $30000.Calculate thenetdollar amount of display equipment the Lowell Merchandising Corporation would report in its balance sheet onDecember31 2010.