As part of the initial investment, Ray Blake contributes equipment that had originally cost $105,900 and on which accumulated depreciation of $79,425 has been recorded. If similar equipment would cost $151,400 to replace and the partners agree on a valuation of $37,200 for the contributed equipment, what amount should be debited to the equipment account? a. 537,200 b. $151,400 c. 527.900 d. $105,900 1