A company purchased a drill press priced at $210,000 in year 0. Site preparation and installation cost $5,000 and 8,000 respectively. The drill press was classified as 5-year MACRS class. The company is considering selling the drill for $70,000 at end of year 3. Compute the book value at end of year 3 that should be used in calculating the taxable gain. O $85,632 $64,224 O $53,108 None of the other answers.

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