Answer the following question:

Acer Inc. purchased machinery on January 1, 2019 for 600,000. Management estimated its useful life would be five years. Management also estimated its residual value to be 100,000. On August 1, 2020 the machinery was sold for 100,000. If the declining balance method was used for depreciation, what was the total accumulated depreciation at the date of sale?

a) 324,000

b) 384,000

c) 144,000

d) 240,000

e) 84,000