On October 1 of the current year, a company purchased and placed in service a machine with a cost of $240,000. The company estimated the machine's useful life to be four years or 60,000 units of output with an estimated salvage value of $60,000. During the current year, 5,000 units were produced.

For the purpose of this question, you can assume every month is 1/12 of a year.

What is the depreciation expense for the current year assuming the company uses:

1. The straight-line method of depreciation
2. The units-of-production method of depreciation
3. The double-declining-balance method of depreciation