On May $1,$ Frontenac Company purchased factory equipment for $$760,000.$ The asset$$s useful in hours is estimated to be $200,000.$ The estimated salvage value is $$40,000$ and the estimated useful life in years is $9.$ The machine was used for $21,000$ hours in the first year. If the activity method is used, what is depreciation expense for the first year of the asset$$s life?

Group of answer choices

$$75,600$

$$53,333$

$$79,800$

$$80,000$