The value of a machine depreciates at 20% per annum. If its present value is $1,50,000, at what price should it be sold after two years such that a profit of $24,000 is made? Choose the correct choice
A) $ 250000
B) $ 430000
C) $ 120000
D) $ 170000
E) $ 150000

Rationale: "c $ 1 , 20,000 the value of the machine after two years = 0.8 * 0.8 * 1 , 50,000 = $ 96,000 sp such that a profit of $ 24,000 is made = 96,000 + 24,000 = $ 1 , 20,000"
Answer: C