Equipment with a cost of $151,095.00 has an estimated residual value of $8,405.00 and an estimated life of 3 years or 12,709 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 3,297 hours? Select the correct answer. $37,016.99 $47,563.33 $3.00 $43.28