Cheyenne Corp. bought equipment on January 1, 2017. The equipment cost $350,000 and had an expected salvage value of $55,000. The life of the equipment was estimated to be 4 years. The company uses the straight-line method of depreciation. The book value of the equipment at the beginning of the third year would be 

a). $295000 

b). $350000. 

c). $202500. 

d). $147500.