company paid $512,000 to purchase equipment and $16,200 to have the equipment delivered to and installed in the company's production facilities. The equipment is xpected to be used a total of 29.200 hours throughout its estimated useful life of six years. The estimated residual value of the equipment is $6.200. The company began using the equipment on May 1, 2018. The company has an October 31, 2018 year-end. It used the equipment for a total of 12.400 hours between May 1 and October 31, 2018 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 2018? Multiple Choice O O O O