On January 1, Year 1, Milton Manufacturing Company purchased equipment with a list price of $30,000. A total of $2,600 was paid for installation and testing. During the first year, Milton paid $3,900 for insurance on the equipment and another $630 for routine maintenance and repairs. Milton uses the units-of-production method of depreciation. Useful life is estimated at 100,000 units, and estimated salvage value is $5,200. During Year 1, the equipment produced 12,000 units. What is closest to the amount of depreciation for the year? (Do not round intermediate calculations.) Multiple Choice $3,288 $3,832 $4,380 o $3,756