8. A company purchased plant and machinery for 510,000 on 1 January 1998 . The company uses straight line depreciation. The company estimates that the plant and machinery will have a useful life of 12 years, after which it may be disposed of for 150,000. What was the net book value of the plant and machinery at 31 December 2004?: (a) 360,000 (b) 125,000 (c) 297,500 (d) 300,000