Windsor Company purchased a depreciable asset for $300,000 on April 1, 2015. The estimated salvage value is $30,000, and the estimated total useful life is 5 years. The straight-line method is used for depreciation. What is the balance in accumulated depreciation on May 1, 2018 when the asset is sold?
Need one answer as follows:
$118,000
$126,000
$148,500
$166,500