Schmaltz Cable operates a satellite receiver that was purchased on January 1, 2015 at a cost of $180,000. Schmaltz expected that the receiver would have a useful life of ten years, at the end of which its residual value would be $20,000. Schmaltz uses straight-line depreciation. On January 1, 2018, Schmaltz' engineer concluded that recent technological changes meant that the receiver's total useful life would only be eight years, after which its residual value would be zero. What is the balance of Accumulated Depreciation as at December 31, 2017? $36,000 $32,000. O $54,000 O $48,000