Cutter Enterprises purchased equipment for $102,000 on January 1, 2021. The equipment is expected to have a five-year life and a residual value of $6,900. Using the straight-line method, the book value at December 31, 2021, would be:

Multiple Choice

a) $76,080.

b) $82,980.

c) $74,700.

d) $81,600.