Equipment with a cost of $161,340 has an estimated residual value of $9,210 and an estimated life of 7 years or 13,033 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 3,845 hours? a. $21,732.86 b. $44,881.44 c. $23,048.57 d. $44,921.01