Factor Company is planning to add a new product to its line. To manufacture this product, the company needs to buy a new machine at a $487,000 cost with an expected four-year life and a $23,000 salvage value. All sales are for cash, and all costs are out-of-pocket, except for depreciation on the new machine. Additional appropriate factor(s) from the tables provided.) $1,960,000 Expected annual sales of new product Expected annual costs of new product 480,000 Direct materials 672,000 Direct labor overhead (excluding straight-line depreciation on new machine 336.000 178,000 Selling and administrative expenses taxes 40% ncome Required 1. Compute straight-line depreciation for each year of this new machine's life. Straight-line depreciation 116,000