Mitchell Corporation bought equipment on January 1, 2022. The equipment cost $120,000 and had an expected salvage value of $20,000. The life of the equipment was estimated to be 6 years. Straight-line depreciation was used. The book value of Mitchell's equipment at the beginning of the third year would be: Select one: a. $120,000 b. $100,000 c. $86,667 d. $33,333 e. $66,667