Drago company purchased equipment on January 1, 2016, at a total invoice cost of $1, 200,000. The equipment has an estimated salvage value of $30,000 and an estimated useful life of 5 years. What is the amount of accumulated depreciation at December 31, 2017, if the straight-line method of depreciation is used? $240,000 $468,000 $480,000 $234,000