M$9-5($Algo$)$ Computing Book Value $($Units$-$of$-$Production Depreciation$)[$LO $9-3]$

A machine that cost $$696,000$ has an estimated residual value of $$29,000$ and an estimated useful life of $29,000$ machine hours. The company uses units$-$of$-$production depreciation and ran the machine $6,000$ hours in year $1,8,000$ hours in year $2,$ and $12,000$ hours in year $3.$

Required:

Calculate its book value at the end of year $3.($Do not round intermediate calculations.$)$