Equipment was acquired at the beginning of the year at a cost of $550,000, The equipment was depireciated using the staight line miethnd tased air an extimated usef lute of 9 . years and an evimated residual value of $40,745. a. What was the depreciation for ther first year? Round your answer to the nearest cent. Round wour answer to the nearest cont and enter as a positive amoiant