Machinery Was Purchased for $340,000

Multiple Choice

Machinery was purchased for $340,000.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.Depreciation expense each year using the straight-line method will be

A) $78,800.
B) $66,800.
C) $57,200.
D) $56,000.