Martin Company purchases a machine at the beginning of the year at a cost of $60,000. The machine is depreciated using the straight-line method. The machine’s useful life is estimated to be 4 years with a $5,000 salvage value. The machine’s book value at the end of year 4 is:

a. $13,750

b. $55,000

c. $30,000

d. $5,000

e. $0

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