Equipment with a cost of $141,079 has an estimated residual value of $8,063 and an estimated life of 7 years or 13,035 hours. It is to be depreciated by the straight-line method. What is the amount of depreciation for the first full year, during which the equipment was used 3,960 hours?

a. $19,002.29

b. $7.00

c. $33.59

d. $40,409.92