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54. (6 points) On January 1, DEF purchased a machine at a cost of $160,000. The machine is expected to have a useful life of 5 years and a salvage value of $20,000 1. (3 points) I DEF uses the straight-line method what will be the amount of Depreciation Expense for the first year? (3 points)) If DEF uses the double-declining balance method, what will be the amount of Depreciation Expense for the first year? t bonus) If DEF sells the machine at the end of the second year at a loss of $4.000,ho money did DEF receive for the machine? Assume the straight-line method of iation