Question 8 Not yet answered Marked out of 4.00 Flag question A company purchased an equipment system for $750,000 on January 2. The company expects the equipment to last for eight years or 100,000 hours of operation, with a $50,000 salvage value. During the first year, the equipment was in operation for 11,000 hours. Using the units-of-production method calculate the equipment's annual depreciation for year 1