Help Save & Edit A company paid $501,000 to purchase equipment and $15.300 to have the equipment delivered to and installed in the company's production facilities. The equipment is expected to be used a total of 28,100 hours throughout its estimated useful life of seven years. The estimated residual value of the equipment is $5,100. The company began using the equipment on May 1 2018. The company has an October 31, 2018 year-end. It used the equipment for a total of 11200 hours between May 1 and October 31 2018. Using the units of production method, what amount of depreciation expense would the company report in the Income statement prepared for the year ended October 2018? 21 SAMSUNG Y U H K C V N M V All $199.491 o 52054 > SUNG C 0 T G M 8 N M