At the beginning of $2024,$ a private NFP organization receives a donation of equipment with a fair value of $$1,000,000$ and an estimated useful life of $5$ years, straight$-$line, no residual value.

The donor puts no restrictions on the donation. What items appear in the $2024$ statement of activities related to this donation?

Select one:

a$.$ Contribution revenue $($increases net assets without donor restrictions$)$ $$1,000,000$; expense $($reduces net assets with donor restrictions$)$ $$200,000.$

b$.$ Contribution revenue $($increases net assets with donor restrictions$)$ $$1,000,000$; net assets released from restrictions $($increases net assets without donor restrictions and reduces net assets with donor restrictions$)$ $$200,000$; expense $($reduces net assets without donor restrictions$)$ $$200,000.$

c$.$ Contribution revenue $($increases net assets without donor restrictions$)$ $$1,000,000$; expense $($reduces net assets without donor restrictions$)$ $$200,000.$

d$.$ Contribution revenue $($increases net assets with donor restrictions$)$ $$1,000,000$; expense $($reduces net assets without donor restrictions$)$ $$200,000.$