Crane Ltd. purchased a new machine on April 4, 2017, at a cost of $172,000. The company estimated that the machine would have a residual value of $16,000. The machine is expected to be used for 10,000 working hours during its four-year life. Actual machine usage was 1,500 hours in 2017; 2,200 hours in 2018; 2,400 hours in 2019; 2,100 hours in 2020; and 1,800 hours in 2021. Crane has a December 31 year end.