Jennings Advertising Inc. reported the following in its December 31, 2021, balance sheet:

Accumulated depreciationequipment	$	360,000

In a disclosure note, Jennings indicates that it uses straight-line depreciation over four years and estimates salvage value as $50,000. Jennings's equipment averages 2 years at December 31, 2021. What is the acquisition cost of the equipment owned by Jennings?

a) 770,000

b) 720,000

c) 670,000

d) 410,000