Newman Co. purchased CNC router cutting and engraving machinery at a cost of $320,000 in January 2019. The company's estimated useful life of this high tech equipment is 5 years, and the estimated salvage value is $48,000.Using the straight-line method, the depreciation expense to be recognized for 2019, the first year of the machinery's life, would be: O $54,400 O $64,000. O $73,600 O $128,000