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Your contracting business is purchasing a scraper for $830,000. The tires for the machine cost $38,000 and you expect to keep the scraper for 4

Your contracting business is purchasing a scraper for $830,000. The tires for the machine cost $38,000 and you expect to keep the scraper for 4 years, after which you expect to sell it for $163,000. You anticipate that you will use the scraper 2,000 hours per year and your company has a cost of capital of 5%. Assuming no major repairs or overhauls, what is the Depreciation Cost per Hour of the Scraper(round your answer to the nearest penny)?

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