On January 1, 2023, Loeffer Company acquired a machine at a cost of $554,000. Loeffer estimates that it witl use the machine for 4 years or 12,000 machine hours, It estimates that ofter 4 years the machine can be sold for $26,000, Loeffler uses the machine for 2,500 and 3,000 machine hours in 2023 and 2024 , respectively. Required: Compute depreciation expense for 2023 and 2024 using the: 1. Straight-iline method of depreciation. 2. Double-declining-balance method of depreciation. 3. Units-of-production method of depreciation