Sheridan Company purchased factory equipment for $631200. Useful hours for the machine are estimated to be 171000. The estimated salvage value is $51000, and the estimated useful life is 8 years. The machine was used for 22000 hours in the first year. The straight-line method will be used for depreciation. What is depreciation expense for the first year if the asset was purchased on January 12 O $72525 $78900 $66885 O $74580