A new machine is expected to produce 600,000 units of product during its 8-year useful life. The machine cost $1, 800,000 cash and it is estimated to have a $60,000 salvage value. Calculate the depreciation if the machine produces 70,000 units of product during its first year, using the units-of-production method. Calculate the depreciation on the machine using the double-declining-balance method. Calculate the depreciation on the machine using the straight-line method. A company purchased a machine on January 1 of the current year for $750,000. Calculate the annual depreciation expense for each year of the machine's life (estimated at 5 years or 20,000 hours, with a salvage value of $75,000) using each of the below-mentioned methods. During the machine's 5-year life its hourly usage was: 3,000; 4,000; 5,000; 5,000; and 3,000; hours