As part of the initial investment, Ray Blake contributes equipment that had originally cost $117,100 and on which accumulated depreciation of $87,825 has been recorded. If similar equipment would cost $151,700 to replace and the partners agree on a valuation of $59,800 for the contributed equipment, what amount should be debited to the equipment account?

a.$59,800

b.$151,700

c.$117,100

d.$44,850