On January 1, 2019, Chace Instruments sold a depreciable asset for cash of $400,000, and recognized a gain of $60,000. The asset had been purchased on January 1, 2014 with an estimated useful life of 10 years, and no salvage value. The asset was depreciated using the straight-line method. What must have been the original cost of the asset?

Select one:

A. $800,000

B. $680,000

C. $920,000

D. $660,000