Bonita Industries purchased machinery on January 2, 2015, for $870000. The straight-line method is used and useful life is estimated to be 10 years, with a $70000 salvage value. At the beginning of 2021 Bonita spent $193000 to overhaul the machinery. After the overhaul, Bonita estimated that the useful life would be extended 4 years (14 years total), and the salvage value would be $37000. The depreciation expense for 2021 should be 568250 $64125 $72875 $80000