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Concord Corporation purchased a depreciable asset for $714000 on April 1, 2018. The estimated salvage value is $72000, and the estimated useful life is 5

Concord Corporation purchased a depreciable asset for $714000 on April 1, 2018. The estimated salvage value is $72000, and the estimated useful life is 5 years. The straight-line method is used for depreciation. What is the balance in accumulated depreciation on May 1, 2021 when the asset is sold?

$301400

$353900

$395900

$259400

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