On October $1,$ year $1,$ ABC. Ltd$.$ purchased a piece of equipment for $ $360000$ plus installation costs of $ $70000$ that were necessary to make the equipment operational. ABC. Ltd$.$ has a December $31,$ fiscal year end and uses the straight line depreciation method. The piece of equipment is expected to have a useful life of $20$ years at which time it will have a residual value of $ $30000.$ What is the book value of the equipment as of December $31,$ year $5.$ Round your answer to the nearest dollar.