Your firm purchased a 5-year MACRS property that cost $250,000. The MACRS rates percent for years 1 to 6, respectively are 20.00 percent, 32.00 percent, 19.20 percent, 11.52 percent, 11.52 percent, and 5.76 percent. At the end of year 2, your firm would calculate the book value of the asset as:

a) $250,000(1 - 0.20)(1 - 0.32)

b) $250,000(0.20)(0.32)

c) $250,000[1 - (0.20)(0.32)]

d) $250,000(1 - 0.20 - 0.32)