Phillip acquired a new piece of agricultural equipment (7 year property) on April 4th for $265,000. This is the only asset acquired during the year. He does not elect immediate expensing under 5 179, and he elected out of bonus depreciation. What is Phillip's depreciation deduction for the year? [Use the tables provided in Blackboard) O $37,857 O $28,393 O $28,401 $37,869