Equipment with a cost of $150,325 has an estimated residual value of $9,416 and an estimated life of 4 years or 14,835 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 for 3,503 hours?

a.$35,227.25

b.$33,272.95

c.$37,581.25

d.$33,313.18