Equipment with a cost of $158,666 has an estimated residual value of $9,371 and an estimated life of 5 years or 12,685 hours. It is to be depreciated by the straight-line method. What is the amount of depreciation for the first full year, during which the equipment was used 3,594 hours?
Oa $41.54
b. $29,859.00
Oc. $5.00
Od. $42,299.27