Current Attempt in Progress Oriole Company purchased a new machine on October 1, 2024, at a cost of $120,000. The company estimated that the machine will have a residual value of $15,600. The machine is expected to be used for 10,000 working hours during its 5-year life. Oriole Company's year-end is December 31. (a) Your Answer Correct Answer (Used) Your answer is incorrect Calculate the depreciation expense under the straight-line method for 2024. Depreciation expense eTextbook and Media 2024 20.000 Attempts: 1 of 1 used Calculate the depreciation expense under the units-of-production method for 2024, assuming machine usage was 1,700 hours. (Round depreciable amount per unit to 2 decimal places, eg. 15.25 and final answer to O decimal places, eg. 2.125) Depreciation expense 2024