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Waterway Company purchased equipment on January 1, 2020, at a total invoice cost of $1220000. The equipment has an estimated salvage value of $30000 and

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Waterway Company purchased equipment on January 1, 2020, at a total invoice cost of $1220000. The equipment has an estimated salvage value of $30000 and an estimated useful life of 5 years. What is the amount of accumulated depreciation at December 31, 2021, if the straight-line method of depreciation is used? O $488000 O $244000 O $238000 O $476000

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