Bundle Corporation purchased a forklift for $80,000 on July 1. The forklift has an estimated useful life of 50,000 usage hours with a residual value of $5,000. Bundle uses the units-of-production method for depreciation. If Bundle uses the forklift for 6,200 hours during the first year, the depreciation expense on the forklift would be (Round intermediary calculations to two decimal places and your final answers to the nearest whole dollar.) O A. $5,000. B. $80,000. C. $9,920. D. $9,300