On January 1, Year 1, Milton Manufacturing Company purchased equipment with a list price of $33,000. A total of $3,200 was paid for installation and testing. During the first year, Milton paid $4,800 for insurance on the equipment and another $660 for routine maintenance and repairs. Milton uses the unitsof production method of depreciation. Useful life is estimated at 100,000 units, and estimated salvage value is $6400. During Year 1, the equipment produced 14,000 units. What is closest to the amount of depreciation for the year? (Do not round intermediate calculations.) $4,844 $5,740 $4,936 $4,172