Current Attempt in Progress Pharoah Company purchased a depreciable asset for
$617000
on April 1, 2023. The estimated salvage value is
$59000
, 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, 2026 when the asset is sold?
$344100
$260400
$306900
$241800
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