Covey Company purchased a machine on January 1, 2014, by paying cash of $1,000,000. The machine has an estimated useful life of five years, is expected to produce 2,000,000 units, and has an estimated residual value of $100,000.

Required:

(A) Calculate depreciation expenses to the nearest whole dollar for the first two years of the machine's useful life under (1) Straight-line depreciation method and (2) Double declining-balance method

(B) If the machine was used to produce and sell 480,000 units in 2014, what would be the depreciation expense using the units-of-production method?