The property and equipment section of the Potterville Inns balance sheet reflects the following after its second year of operation on December 31, 2018:

Land $200,000

Equipment $60,000

Accumulated Depreciation (20,000)

Net Property and Equipment $240,000

The inn depreciates its equipment as follows:

Equipment six-year life, $0 residual value, straight-line depreciation.

What is the amount of equipment account in the firms balance sheet as of December 31, 2019?