Renewable Energies, Inc. (REI) paid $100,000 to purchase a windmill. The windmill was expected to have an 8 year useful life and a $20,000 salvage value. At the beginning of the fifth year of operation REI changed the estimated salvage to $28,000. Assuming the Company uses the straight-line method, the amount of accumulated depreciation on the Year 6 balance sheet would be

$56,000

$48,000.

$40,000.

$60,000.