On Jan. 2, 2013, Jackson Corporation acquires a truck for $500,000. Cash of $400,000 is paid and a note payable for the remaining $100,000 was signed at acquisition. The truck is depreciated over a 10-year period $50,000 per year. What is the historical cost recorded on the year-end 2016 balance sheet?

a-) $50,000

b-) $150,000

c-) $350,000

d-) $400,000

e-) $500,000