On January 1, 2007, the Accumulated Depreciation-Machinery Account of a Particular

On January 1, 2007, the Accumulated Depreciation-Machinery account of a particular company showed a balance of $370,000.At the end of 2007, after the adjusting entries were posted, it showed a balance of $395,000.During 2007, one of the machines which cost $125,000 was sold for $60,500 cash.This resulted in a loss of $4,000.Assuming that no other assets were disposed of during the year, how much was depreciation expense for 2007?

A) $85,500
B) $93,500
C) $25,000
D) $60,500