Use the following information to answer the question Mitchell Corporation bought equipment on January 1, 2022. The equipment cost $120,000 and had an expected salvage value of $20,000. The site of the equipment was estimated to be 6 years Straight-line depreciation was used The book value of equipment at the end of the fifth year would be approximately O a $36,667 O b. $16,667 Oc$86,667 O d. $70,000 O e $83,333