The value of a machine depreciates at 22% 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 answer
A) $ 255260
B) $ 435260
C) $ 125260
D) $ 115260
E) $ 155260

Rationale: "the value of the machine after two years = 0.78 * 0.78 * 1 , 50,000 = $ 91,260 sp such that a profit of $ 24,000 is made = 91,260 + 24,000 = $ 1 , 15,260 d"
Answer: D