Steven company purchased a depreciable asset for $350,000 on April 1, 2010. The estimated salvage value is $35,000, and the estimated uselife is 5 years. The straight-line method is used for depreciation. What is the balance in accumulated depreciation on May 1, 2013 when the asset is sold?
a) $126,000
b)$147,000
c)$173,250
d)$194,250