Maxim Corporation acquired equipment for $124,000. The estimated life of the equipment is 3 years or 24,000 hours. The estimated residual value is $10,000. What is the depreciation for 2007, if Baldwin Corporation uses the asset 9,100 hours and uses the units-of-production method of depreciation?
a) $43,225
b) $47,017
c) $41,333
d) $38,000