victory company purchases office equipment at the beginning of the year at a cost of $16,000. The machine is depreciated using the straight-line method. The machine's useful life is estimated to be 5 years with a $1,000 salvage value. The balance of accumulated depreciation at the end of the third year is

a. 7,000

b. 6,000

c. 9,600

d. 9,000

e. 6,400