1 A factory machine was purchased for $394,000 on January 1, 2021. It was estimated that it would have a $77,000 salvage value at the end of its 5-year useful life. It was also estimated that the machine would be run 43,000 hours in the 5 years. The company ran the machine for 4,300 actual hours in 2021. If the company uses the units-of-activity method of depreciation, calculate the depreciation expense for 2021 (5 points)