Machinery was purchased for $420000 on January 1, 2022. Freight charges amounted to $15000 and there was a cost of $34000 for building a foundation and installing the machinery. It is estimated that the machinery will have a $55000 salvage value at the end of its 9-year useful life. What is the amount of accumulated depreciation at December 31, 2023 if the straight-line method of depreciation is used?

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