On January 2, 2019, Co. purchased a machine for $264,000 and depreciated it using the sum-of-the-years-digits method with an estimated useful life of 8 years with no salvage value. On January 2, 2022, the company changed to straight-line depreciation and determined that the machine had a useful life of 6 years from the date of acquisition and will have a salvage value of $20,000.

Assuming the proper accounting change was made in 2022 to reflect the new estimates, what is the balance of accumulated depreciation for this machine at December 31, 2022?

$184,000

$129,000

$154,000

$172,000