Zoey Pet Supply Had $314,000 in Net Fixed Assets at the Beginning

Multiple Choice

Zoey Pet Supply had $314,000 in net fixed assets at the beginning of the year.During the year, the company purchased $98,200 in new equipment.It also sold, at a price of $10,000, some old equipment that had a book value of $12,500.The depreciation expense for the year was $24,500.What is the net fixed asset balance at the end of the year?

A) $260,000
B) $283,700
C) $424,200
D) $375,200
E) $277,000