On January 1, 2018, Ivanhoe Corp. purchased a machine for $894000. The machine was being depreciated using the straight-line method over an estimated useful life of eight years, with a $80000 residual value. At the beginning of 2023, the company determined that the machine's useful life was underestimated, it should have been 10 years; however, this would result in $0 residual value. The depreciation expense for 2023 should be $89400. $77050. $67050. $93050.