On January 1, 2016, a company placed into service equipment that had a total capitalized cost of $1,200,000. The equipment had an estimated salvage value of $30,000 and an estimated useful life of 5 years. What is the amount of accumulated depreciation at December 31, 2017, if the straight-line method of depreciation is used? a. $480,000. b. $240,000. c. $234,000. d. $468,000