Equipment with a cost of $169,109 has an estimated residual value of $7,186 and an estimated life of 5 years or 13,671 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 3,402 hours?

A. $5.00

B. $47.60

C. $32,384.60

D. $40,294.20