On December 31, the balance in the Prepaid Advertising account was $176,000, which is the remaining balance of a twelve-month advertising campaign purchased on August 31 in the current year. Assuming the cost is spread equally over each month how much did this advertising campaign cost in total?
a) $286,000
b) $176,000
c) $264,000
d) $154,000
e) $22,000