Perdue Company purchased equipment on April $1$ for $$58,320.$ The equipment was expected to have a useful life of three years, or $7,560$ operating hours, and a residual value of $$1,620.$ The equipment was used for $1,400$ hours during Year $1,2,600$ hours in Year $2,2,300$ hours in Year $3,$ and $1,260$ hours in Year $4.$