Your company purchases an excavator with tracks for $300,000. The freighting cost to your site is $8,000. It is expected to have a service life of 12,000 hours and it will be used 1200 hours per year. At the end of its life it has a salvage value of $75,000. It uses fuel at the rate of 8 gal per hour, and fuel costs $3.00 per gallon Company equipment overhead is 18 %. Tracks for the excavator have a nominal life of 4000 hours. The replacement cost for a pair of tracks is $6000 and maintenance on the tracks is about 20% of their cost. Hint: Treat tracks like tires except maintenance is 20% of cost for the tracks Determine the hourly depreciation of the excavator