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On January 1, 2011, Dexter Corporation purchased a piece of equipment, which is being depreciated on a straight-line basis over a useful life of 5

On January 1, 2011, Dexter Corporation purchased a piece of equipment, which is being depreciated on a straight-line basis over a useful life of 5 years, with a residual value of $ 10,000. The equipment's accumulated depreciation account has a credit balance of $70,000 and an adjusted credit balance of $105,000 on January 1, 2013 and December 31, 2013, respectively. The original cost of the equipment is:

None of the other alternatives are correct

$115,000

$175,000

$185,000

$105,000

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