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Monty Co. purchased a machine on January 1, 2024, for $25400. The machine had an estimated useful life of 10 years and an estimated residual

Monty Co. purchased a machine on January 1, 2024, for $25400. The machine had an estimated useful life of 10 years and an estimated residual value of $2800. If Monty Co. used the straight-line method of depreciation, what would the carrying value of the machine be at the end of 2024?

a.$20320

b.$22860

c.$23140

d.$20600

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