On January 2, 2023, Konrad Corporation acquired equipment for $600,000. The estimated life of the equipment is 5 years or 37,000 hours. The estimated residual value is $8,000. If Konrad Corporation uses the units of production method of depreciation, what will be the debit to Depreciation Expense for the year ended December 31, 2024 , assuming that during this period, the asset was used 7,000 hours? A. $118,400 B. $112,000 C. $115,027 D. $113,514