Machinery Was Purchased for $340,000 on January 1, 2022

Multiple Choice

Machinery was purchased for $340,000 on January 1, 2022.Freight charges amounted to $14,000 and there was a cost of $40,000 for building a foundation and installing the machinery.It is estimated that the machinery will have a $60,000 salvage value at the end of its 5-year useful life.What is the amount of accumulated depreciation at December 31, 2023 if the straight-line method of depreciation is used?

A) $133,600.
B) $66,800.
C) $57,200.
D) $114,400.