Crane Company purchased a depreciable asset for $1,100,000. The estimated salvage value is $50,000, and the estimated useful life is 10,000 hours. Crane used the asset for 1,300 hours in the current year. The activity method will be used for depreciation. What is the depreciation expense on this asset? O $121,000 $114,950 O $136,500 O $104,500