On January 1, 2014, Janik Corp. acquired a machine at a cost of $700,000. It is to be depreciated on the straight-line method over a five-year period with no residual value. Because of a bookkeeping error, no depreciation was recognized in Janik's2014 and 2015financial statements. The oversight was discovered during the preparation of Janik's 2016 financial statements. Accumulated depreciation on the 12/31/16 balance sheet should be:

Select one:

a. $196,000b. $140,000c. $420,000d. $280,000e. $504,000