On April 1, 2020, Evergreen purchased a tree grinding machine for $243,200. The machine was estimated to have a five-year useful life and an $39,200 residual value. The company has a December 31st year end. It was also estimated to have a total useful life of 12,000 hours. It is used for 1,600 hours in the year ended December 31, 2020, 3,000 hours in the year ended December 31, 2021, 2,900 hours in the year ended December 31, 2022, 2,000 hours in the year ended December 31, 2023, 2,000 hours in the year ended December 31, 2024 and 500 in the year ended December 31, 2025.