On January 1, 2018, Pass Company acquired Study PLC, a British subsidiary, by purchasing all its common stock at book value.

Building and equipment were acquired as follows:

Date	Cost
January 1, 2016	£100,000
December 31, 2017	£130,000
July 1, 2018	£100,000

Building and equipment are depreciated using straight-line method and a 10-year life, with no salvage value.

Exchange Rates Table
January 1, 2016	1 £	$1.20
December 31, 2017	1£	$1.25
January 1, 2018	1£	$1.25
July 1, 2018	1£	$1.26
November 1, 2018	1£	$1.27
December 26, 2018	1£	$1.31
December 31, 2018	1£	$1.35
Average for 2018	1£	$1.30

Assume the U.S. dollar is the functional currency.

Using the appropriate restatement method, what is the amount of accumulated depreciation in dollars?

a. $60,000

b. $60,050

c. $76,300

d. $76,300