Answer: E. e. weight = 130 lbs downward, contact force = 140 lbs upward, acceleration is upward.
Explanation: taking into account the second Newton law,we have the following:
N-W= m* a where N and W are contact and weight forces
as the velocity is changing in that instant the acceleration must be different of zero. So as the mass move upward, the contact force must be higher that the weight force.