A new machine costing $2,500,000 cash and estimated to have a $120,000 salvage value was purchased on January 1. The machine is expected to produce 1,100,000 units of product during its 10-year useful life. Calculate the depreciation expense in the first year under the following independent situations: 1. The company uses the units-of-production method and the machine produces 150,000 units of product during its first year. 2. The company uses the double-declining-balance method. 3. The company uses the straight-line method