Newman Co. purchased CNC router cutting and engraving machinery at a cost of $320,000 in January 2019. The companys 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 machinerys life, would be:

Multiple Choice

• $128,000.

• $73,600.

• $64,000.

• $54,400.