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On January 1,2024, Sanderson, Inc. acquired a machine for $1,010,000. The estimated useful life of...

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Accounting

On January 1,2024, Sanderson, Inc. acquired a machine for $1,010,000. The estimated useful life of the asset is five years. Residual value at the end of five years is estimated to be $70,000. What is the book value of the machine at the end of 2025 if the company uses the straight - line method of depreciation?
A. $564,000
B. $634,000
C. $606,000
D. $605,996
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