On January 2, 20x9 an entity acquired equipment for $124000. The estimated life of the equipment is 5 years or 20000 hours. The estimated residual value is $20000. If the straight-line method of depreciation is used, what will be the debit to Depreciation Expense for the year ended December 31, 20x10, during which period the asset was used 4500 hours? Select one: O a. $23400 b. $20800 O c. $24800 d. $27900