The Andrews Company has just purchased $56,054,000 of plant and equipment that has an estimated useful life of 15 years. The expected salvage value at the end of 15 years is $5,605,400. What will the book value of this purchase (exclude all other plant and equipment) be after its third year of use? (Use FASB GAAP)

$48,580,133

$44,843,200

$45,964,280

$40,358,880