Michele Manufacturing acquired a $60,000 machine on January 1, 20X9. The machine is estimated to have a useful life of 4 years, and a residual value of $10,000. For unit depreciation purposes, the machine is expected to produce 500,000 units. If Michele Manufacturing uses straight-line depreciation, what is the balance in the accumulated depreciation account on January 1, 2X11? a. $14,400 b. $16,000 c. $17,600 d. $21,600 e. $25,000