On January 1, 2018, Sanderson Company acquired a machine for $1,070,000. The estimated useful life of the asset is five years. Residual value at the end of five years is estimated to be $87,000. What is the book value of the machine at the end of 2019 if the company uses the straight-line method of depreciation?
A) $642,000
B) $676,800
C) $589,800
D) $641,996
B) $676,800
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