Depreciation of assets - 40 points On January 1, 2022, a company purchased and placed in service some manufacturing equipment with a cost of $480,000. The company estimated the machine's useful life to be 5 years or 150,000 units of output with an estimated salvage value of $50,000. During the first year, 30,000 units were produced. What is the depreciation for the first year of the machine's useful life, assuming the company uses: a. The straight-line method of depreciation b. The units-of-production method of depreciation (round per unit rate to 2 decimal points)