On January 1, 2020, Crane Corp. acquired a machine at a cost of $890000. It is to be depreciated on the straight-line method over a 5year period with no residual value. Because of a bookkeeping error, no depreciation was recognized in Crane's 2020 financial statements. The oversight was discovered during the preparation of Crane's 2021 financial statements. Depreciation expense on this machine for 2021 should be $0. $222500. $178000. $356000