On January 1, 2019 Jeacle Corporation acquired equipment for $120,000. The estimated life of the equipment is 8 years or 14,000 hours. The estimated residual value is $4,000. If Jeacle uses the straight-line method of depreciation, what will be the debit to Depreciation Expense for the year ended December 31, 2020, during which period the asset was used 1,500 hours? Select one: a. $14,500 b. $15,000 c. $12,429 d. $12,000