Ivanhoe Company purchased a new machine on October 1, 2027, at a cost of $68,220. The company estimated that the machine has a salvage value of $6,540. The machine is expected to be used for 70,400 working hours during its 6-year life. Compute the depreciation expense under the straight-line method for 2027 and 2028, assuming a December 31 year-end. (Round answers to 2 decimal places, e.g. 5,275.23.)

The depreciation expense under the straight-line method:

2027: $___

2028: $___