Darth Vader Company purchased a depreciable asset for $906,000 on April 1, 2015. The estimated salvage value is $49,000, and the estimated useful life is 7 years. The straight-line method is used for depreciation.

What is the balance in accumulated depreciation on July 1, 2020, when the asset is sold?

$679,500

$642,750

$612,142.86

$263,250