On May 1,VaughnCompany purchased factory equipment for $763800. The asset's useful life in hours is estimated to be219000. The estimated salvage value is $42000and the estimated useful life in years is 9. The machine was used for27000hours in the first year. If the straight-line method will be used, what is depreciation expense for the first year of the asset's life?

Select answer from the options below- Incorrect!

$89100

$53467

$80200

$56577