Depreciation Methods On. January 1, 2023, Loeffier Company acquired a machine at a cost of $336,000. Loeffer estimates that it wil use the machine for 4 years ar 10,000 machine houn. it estimates that after 4 years the machine can be sold for $16,000. Loefller uses the machine for 2,100 and 2,500 machine hour in 2023 and 2023 , respedivaly. Required: Compute depreciation expense for 2023 and 2024 using the: 1. Straight-kine method of depreciation. 2. Double-declining-balance method of depreciation. 3. Units-of-production method of depreciation