Equipment was purchased for $82000 on January 1, 2021. Freight charges amounted to $3200 and there was a cost of $9000 for building a foundation and installing the equipment. It is estimated that the equipment will have a $16000 salvage value at the end of its 5-year useful life. What is the amount of accumulated depreciation at December 31, 2022, if the straight-line method of depreciation is used?

$15640.

$31280.

$13960.

$27920.