A company acquires a bulldozer and its only two components for a total of $420,000 on January 1. The useful life of the bulldozer is 10 years with no salvage value. The treads with a value of $20,000 will need to be replaced every eight years with no salvage value. The blade has a value of $50,000 and needs to be replaced every four years with no salvage value. The company uses the straight-line method to compute depreciation. Under IFRS, what is depreciation expense for the year?

Select one:

a. $50,000

b. $57,500

c. $57,000

d. $58,000

e. $65,000