2) On January 1, 2024, Sanderson, Inc. acquired a machine for $1,100,000. The estimated useful life of the asset is five years. Residual value at the end of five years is estimated to be $54,000. What is the book value of the machine at the end of 2025 if the company uses the straight-line method of depreciation? A) $627,600 B) $659,996 C) $681,600 D) $660,000