A new machine costing $60,000 cash and estimated to have a $10,000 salvage value was purchased on January 1. The machine is expected to produce 5,000 units of product during its 4-year useful life. Calculate depreciation expense in the first year under the following independent situations. 1. The company uses the units-of-production method and the machine produces 750 units of product during its first year. 2. The company uses the double-declining-balance method. 3. The company uses the straight-line method. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Calculate depreciation expense in the first year if the company uses the units-of-production method and the machine produces 750 units of product during its first year. Select formula for the depreciation rate of Units of Production (Cost-Salvage value)/Total units of production Calculate the first year depreciation expense: Depreciation per unit Units in first year Depreciation in first year Required 2 > < Prev 10 of 22 Next >