Brief Exercise 7-32 (Algorithmic) Depreciation Methods On January 1, 2019, Loeffler Company acquired a machine at a cost of $134,000. Loeffler estimates that it will use the machine for 4 years or 8,000 machine hours. It estimates that after 4 years the machine can be sold for $6,000, Loeffler uses the machine for 1,700 and 2,000 machine hours in 2019 and 2020, respectively Required: Compute depreciation expense for 2019 and 2020 using the: 1. Straight-line method of depreciation. Depreciation Expense 2019 2020 2. Double-declining-balance method of depreciation. Depreciation Expense 2019 2020 . Units-of-production method of depreciation. Depreciation Expense 2019 2020