Cantanna Inc., is developing a pro forma income statement for the coming year. The chief 46. financial officer estimates that fixed assets are $70,000,000 and that sales will be $300,000,000. If depreciation is historically 20% of fixed assets, what is the expected amount of depreciation for the upcoming year (in dollars)?

a. $14,000,000

b. $20,000,000

c. $60,000,000

d. this figure cannot be reasonably estimated