On January 1, 2018, Jordan Company acquired a machine for $1,090,000. The estimated useful life of the asset is five years. Residual value at the end of five years is estimated to be $60,000.

Calculate the depreciation expense per year using the straight-line method.

                                                                           A) $218,000   C) $266,000    E) none of the above

                                                                                               B) $206,000   D) $272,500