Dream Company, a paintbrush manufacturer, purchased a machine for producing paintbrush on January 1st 2016. The machine was expected to have a residual value of $60,000 at the end of its useful life in eight years. Dream Company uses straight-line depreciation method for long-lived assets. 2016.1.1. Historical cost $ 700,000 2017.12.31. Fair value $ 525,000 Expected future cash flow $530,000 Present Value of future cash $ 520,000 flow Selling cost $ 10,000 If Dream Company makes a decision to reclassify the machine as held for sale in the meeting on December 31st 2017, what is the amount to be recorded in the balance sheet on that day? O A $540,000. O B $520,000. O c $515,000