The Atlantis Adventure Resort plans to transport guests to its underwater facility in a submarine. The sub cost $500,000, has a salvage value of $20,000, and has an estimated useful life of 48,000 hours, or 6 years use. During the first year of the subs operation, it was used for 8,000 hours. Using the straight-line method of depreciation, calculate the subs depreciation for the first year