ZyCo uses the straight-line method. Assets purchased between the
1st and 15th of the month are depreciated for
the entire month; assets purchased after the 15th of the
month are treated as though they were acquired the following month.
On May 2, 20X1, ZyCo purchases furniture for $35,000 that it
expects to last for 10 years; ZyCo expects the furniture to have a
residual value of $3,000. What is the book value at the end of