An asset being amortized with the straight-line method has a residual value of $40,000 and amortization expense of $30,000 in its second year. What was the original cost of the asset if its useful life was 10 years? Select an answer and submit. For keyboard navigation, use the up/down arrow keys to select an answer a $260,000 b $300,000 $350,000 d $340,000