On January 1, 2016, Martini Inc. acquired a machine for $1,050,000. The estimated useful life of the asset is five years. Residual value at the end of five years is estimated to be $100,000. What is the book value of the machine at the end of 2017 if the company uses the straight - line method of depreciation? $670,000 $629,996 $570,000 $630,000