Equipment with a cost of $157,097 has an estimated residual value of $7,745 and an estimated life of 3 years or 14,675 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 3,029 hours? Oa. $30,827.07 b. 53.00 Oc. $49,784.00 Od. $49.31