XYZ Limited applies the straight-line method of depreciation to its non-current assets. The cost of the buildings was $400 000, the depreciable amount is $350 000, the residual value is $50 000 and the useful life is 10 years. The annual depreciation charge is: Select one: O a. $35 000 b. $50 000 C. $40 000 d. $ 100 000