Question 73: 52. On January 2, 2015, Kellogg Corporation acquired equipment for $300,000. The estimated life of the equipment is 5 years or 40,000 hours. The estimated residual value is $20,000. What is the book value of the asset on December 31, 2016, if Kellogg Corporation uses the straight-line method of depreciation?

Group of answer choices

D) $244,000

A) $180,000

C) $240,000

B) $188,000