On January 2, 2016 McNally's Extra Corporation acquired equipment for $120,000. The estimated life of the equipment is 5 years or 20,000 hours. The estimated residual value is $20,000. If McNally's Extra Corporation uses the straight-line method of depreciation, what will be the debit to Depreciation Expense for the year ended December 31, 2017, during which period the asset was used 4,500 hours? ( A, OB, OC. OD, $22,500 $27,000 $24,000 $20,000