Newman Co. purchased CNC router cutting and engraving machinery at a cost of $320,000 in January 2019. The company's estimated useful life of this high tech equipment is 5 years, and the estimated salvage value is $48,000. Using the straight-line method, the net book value at December 31, 2021, after the third year of the machinery's life, would be: Multiple Choice $128,000 $163,200 $156,800 $211,200