A company paid $508,000 to purchase equipment and $15,800 to have the equipment delvered to and installed in the company's production facilities. The equipment is expected to be used a total of 28,800 hours throughout its estimated useful life of six years. The estimated residual value of the equipment is $5,800. The company began using the equipment on May 1, 2016. The company has an October 31, 2016 year-end. It used the equipment for a total of 12.000 hours between May 1 and October 31, 2016. Using the units-of production method, what amount of depreciation expense would the company report in the Income statement prepared for the year-ended October 31, 2016? O $215.833 O $518.000 O $209.833 O $107917