Equipment was purchased for $$300,000.$ Freight charges amounted to $$14,000$ and there was a cost of $$40,000$ for building a foundation and installing the equipment. It is estimated that the equipment will have a $$60,000$ salvage value at the end of its $5-$year useful life. Depreciation expense each year using the straight$-$line method will be

Select one:

a$.$ The answer does not exist

b$.$ $$58,800.$

c$.$ $$70,800.$

d$.$ $$49,200.$

e$.$ $$48,000.$