A company paid $520,000 to purchnse equipment and $17,000 to have the ectupment dellvered to and installed in the company's production facilities. The equipment is expected to bo usod a total of 30.000 hours throughout its estimatod useful life of six years. The estimated residuat value of the equipment is 57.000. The compary began using the equipment on May 1. 2021. The company has an October 31, 2021 year-nd. 1t used the equipment for a total of 13,200 hours between May 1 and October 31, 2021. Using the units-of-production method, what amount of depreciation expense wouid the company report in the income statement prepared for the year-ended October 31,20217 Muitiple choice. $+16,600 5227.200 $233,200 5530.000