The Gurudham Culural Centre (GCC), a not-for-profit organization reporting under ASNPO has a February 28, 2021 year-end. On August 1, 2020, it received a donation of equipment with a fair value of $108,000. The equipment is estimated to have a useful life of 7 years, with a residual value estimated to be $14,000. What is the net book value at the end of the current fiscal year? options:

a) $100,167

b) $92,571

c) $94,571

d) $99,000

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