Herasa Manufacturing purchased a new machine on Jan 1, 20X1 that was built to perform one function on its assembly line. Data pertaining to this new machine are:

Cost $560,000

Residual value (salvage) $11,000

Estimated service life 9 years

Production output 300,000 units

Using double declining method, what is the first year's depreciation expense?

Enter your response rounded to whole numbers, no commas and no dollar signs.