Problem
On January 1, 2013, Dexter Corporation purchased a piece of equipment, which is being depreciated on a double declining balance basis over a useful life of 5 years, with a residual value of $20,000. The equipment's accumulated depreciation account has a credit balance of $96,000 and an adjusted credit balance of $117,600 on January 1, 2015 and December 31, 2015, respectively. The original cost of the equipment is:
a)None of the other alternatives are correct
b)$148,000
c)$170,000
d)$128,000
e)$150,000.