The opening balance in a company's equipment account was $1,700, with depreciation totaling $500 accumulated separately (in a contra account). Depreciation expense for the period under consideration amounted to $300. In addition, new equipment was purchased for $700 and items costing $400 were sold for their net book value of $150. After recording the above events, the net book value of the equipment at the end of the period amounted to: A) $1,200 B) $1,450 C) $1,600 D) $1,700 E) $1,750