An entity purchased a machine for $$700,000.$ The machine was depreciated using the straight$-$line method and had a residual value of $$40,000.$ The machine was sold on December$31,$ Year $1.$ The accumulated depreciation related to the machine was $$495,000$ on that date. The entity reported a gain on the sale of the machine of $$75,000$ in its income statement for the fiscal year ending December $31,$ Year $1.$ The selling price of the machine was

A$.$$$280,000$

B$.$$$205,000$

C$.$$$115,000$

D$.$$$240,000$