Equipment with a cost of $360,000 has an estimated residual value of $70,000, and an estimated life of 12,000 hours and 5 years. What is the amount of depreciation for the first full year using the units-of-production method, during which the equipment was used 2,500 hours?

A. $58,000

B. $72,000

C. $75,000

D. $60,425