Oregon Company is in the process of preparing its financial statements for 2017. Assume that no entries for any depreciation or accounting changes have been recorded in 2017. The following information related to depreciation of fixed assets is provided to you: Oregon purchased amachineon July 1, 2015, at a cost of $80,000. The machine has a salvage value of $8,000 and a useful life of 8 years. Oregon's bookkeeper recorded straight-line depreciation in 2015 and 2016 but erroneously assumed a useful life of 10 years. Following all appropriate adjusting/correcting journal entries, the 12/31/17 balance ofAccumulated Depreciation-Machinewill be:

Select one:

a. $22,500b. $27,500c. $31,556d. $23,400e. $18,000