On January 1, 2017 Time Stone Inc. purchased machinery for $70,000. The company estimated a useful life of 11 years and a $4,000 salvage value. On January 1, 2021, Time Stone revised the estimate of salvage value to $0 and determined the remaining useful life to be 2 years. If the company always uses the straight-line depreciation method, what is the balance in the accumulated depreciation account for the machinery as of December 31.2021? $35,000 O $53.000 $30,000 $47,000 $31,818