In recent years, Ivanhoe Corporation has purchased three machines. Because of frequent employee turnover in the accounting department, a different accountant was in charge of selecting the depreciation method for each machine, and various methods have been used. Information concerning the machines is summarized in the table below. Machine Acquired Cost Residual Value Useful Life (in years) Depreciation Method 1 Jan. 1, 2018 $104,700 $11,400 5 Straight-line 2 July 1, 2019 81,250 9,100 5 Diminishing-balance 3 Nov. 1, 2019 74,838 6,380 6 Units-of-production For the diminishing-balance method, Ivanhoe Corporation uses double the straight-line rate. For the units-of-production method, total machine hours are expected to be 26,330. Actual hours of use in the first 3 years were: 2019, 410; 2020, 4,470; and 2021, 5,220.