1. A computer purchased on March 31, 2010 by Oakley Company for $120000 is being depreciated over six years. However, Oakley has not been keeping proper fixed asset records and depreciation schedules. On December 31, 2012, Oakley decided to sell the computer for $50000. He found out at this point that the computer was to be depreciated over five years instead of six years. Oakley's financial year ends on December 31. Also, asset purchases of $50000 and above are to be approved by top management. There is no formal authorization procedure for proper asset disposal at Oakley Company. What should be the correct accumulated depreciation amount for the computer on December 31, 2012?