On January 1, 20X1, your company, which uses the straight-line method, purchases 3 machines, recorded as follows: Cost Salvage Value Useful Life Machine #1 $6,000 $1,000 5 years Machine #2 $6,000 $1,000 10 years Machine #3 $11,000 $1,000 10 years What is total 20X1 depreciation for the 3 machines? $1,250 $2,900 $5,000 $2,500