Equipment with a cost of $168,771.00 has an estimated residual value of $8,297.00 and an estimated life of 7 years or 15,619 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 3,382 hours? Select the correct answer. $34,747.62 $7.00 $47.45 $22,924.86