The Andrews Company has just purchased $52,648,000 of plant and equipment that has an estimated useful life of 15 years. The expected salvage value at the end of 15 years is $5,264,800. What will the depreciation expense for this purchase (exclude all other plant and equipment) be for the second year of use? (Use FASB GAAP)

Select: 1

$3,509,867

$7,019,733

$3,158,880

$6,317,760