You received no credit for this question in the previous attempt View previous attempt MC Qu. 9-96 A company paid.. A company bald $515.000 to purchase equipment and $16.500 to have the equipment delivered to and installed in the company's production facilities. The equipment is expected to be used a total of 29.500 hours throughout its estimated useful life of seven years. The estimated residual value of the equipment is $6,500 The company began using the equipment on May 2018. The company has an October 31, 2018 year-end. It used the equipment for a total of 12.700 hours between May 1 and October 31, 2018. Using the units of production method, what amount of depreciation expense would the company report in the income statement prepared for the year onded October 31 2018? MON Choice 5210011 $525.000 122.00