Tracker Inc. purchased equipment at a cost of $565311, which has an estimated residual value of $64020. The equipment is expected to be used for a total of 178567 productive hours over the next 15 years. The total number of hours in use in the first year is 16421. What is the depreciation expense for the first year under the units of production method?

Select one: a. $33254 b. $29488 c. $46099 d. $51986