The Andrews Company has just purchased $40,944,000 of plant and equipment that has an estimated useful life of 15 years. The expected salvage value at the end of 15 years is $4,094,400. What will the book value of this purchase (exclude all other plant and equipment) be after its third year of use? (Use FASB GAAP)

Select: 1

	$29,479,680
	$32,755,200
	$33,574,080
	$35,484,800