On January 1, 2024, Janik Corp. acquired a machine at a cost of $700,000. It is to be depreciatedon the straight-line method over a five-year period with no residual value. Because of a bookkeeping error, no depreciation was recognized in Janik's 2024 and 2025 financial statements. The oversight was discovered during the preparation of Janik's 2026 financial statements. Accumulated depreciation on the 12/31/26 balance sheet should be:

a.$196,000

b.$140,000

c.$420,000

d.$280,000

e.$504,000