QUESTION 20 Acompany paid $14,000 to purchase equipment and 516,400 to have the equipment delivered to and installed in the company's production facilities. The ce sexpected to be used a total of 29.400 hours throughout its estimated useful life of six years. The estimated residual value of the equipment is 56,400. The company used the equipment for a total of 12,600 hours in Year 1. Using the units of production method, what amount of depreciation expense would the company report in the income statement prepared for the Year 17 3524000 21.571 5112296 5224571 None of the above