(2) Equipment was purchased for $85,000 on January 1, 2016. Freight charges amounted to $3,500 and there was a cost of $10,000 for building a foundation and installing the equipment. It is estimated that the equipment will have a $15,000 salvage value at the end of its 5-year useful life What is the amount of accumulated depreciation at December 31, 2017, if the straight-line method of depreciation is used? Select one: a5 28600 D. s12300 C S350 TED