Cutter Enterprises purchased equipment for $90.000 on January 1, 2024. The equlpment is expected to have a five-year life and a residual value of $8,100. Using the stralght-line method, the book value on December 31, 2024, would be:
a. $73,620
b. $72,000.
c. $65,520.
d. $63,900.