The Andrews Company has just purchased $47,976,000 of plant and equipment that has an estimated useful life of 15 years. The expected salvage value at the end of 15 years is $4,797,600. What will the depreciation expense for this purchase (exclude all other plant and equipment) be after its second year of use?
a. $2,878,560
b. $3,198,400
c. $6,396,800
d. $5,757,120