Mohr Company purchases a machine at the beginning of the year a a cost of $37,000. The machine is depreciated using the straight-line method. The machine's useful life is estimated to be 8 years with a $6,000 salvage value. The book value of the machine at the end of year 2 is:

$3,875

$7,750

$23,250

$29,250

$31,000