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Beginning balance in Property Plant and Equipment (PP&E) is $500,000. The ending balance in PP&E is $525,000. During the year, the Company purchased $75,000 of PP&E. The beginning balance in Accumulated Depreciation is $75,000. The ending balance in Accumulated Depreciation is $85,000. The Company recorded $33,000 of depreciation expense during the year. What was the historical cost of the equipment that was disposed of during the year?

a. $75,000
b. $50,000
c. $525,000
d. $100,000

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