Equipment with a cost of $160,000 has an estimated salvage value of $15,000 and an estimated life of 4 years or 12,000 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 3,300 hours? Select one: a. $40,000 O b. $43,750 O c. $41,250 O d. $36,250