Cuso Company purchased equipment on January 1,1997 , at a total invoice cost of \(\$ 400,000\). The equipment has an estimated salvage value of \(\$ 10,000\) and an estimated useful life of 5 years. What is the amount of accumulated depreciation at December 31, 1998, if the straightline method of depreciation is used?

(a) \(\$ 80,000\)

(c) \(\$ 78,000\)

(b) \(\$ 160,000\)

(d) \(\$ 156,000\)