The new trainee accountant for X Ltd has been asked to calculate the total depreciation expense for equipment to include in the SCI for the year ended 31 December 2019. He was provided with the following details:

1. X Ltd uses the straight-line depreciation method for all items of equipment.

2. One piece of equipment had been purchased on 01 October 2014 at a cost of $780,000. It had an estimated life of 8 years and an estimated residual value of $36,000. This piece of equipment was sold on 31 July 2019.

3. A new item of equipment was purchased on 01 August 2019 at a cost of $960,000. It had an estimated life of 6 years

.4. The remaining (rest) four items of equipment had been purchased over various dates in 2013 at a total cost of $2,300,000. Each of the four items had an estimated life of 10 years.

The total equipment depreciation expense to include in the SCI of X Ltd for the year ended 31 December 2019 is:

(a) $483,000 (b) $353,542 (c)$350,917 (d) $296,667