Problem 11-11 (Part Level Submission) On January 1, 2015, a machine was purchased for $102,600. The machine has an estimated salvage value of $6,840 and an estimated useful life of 5 years. The machine can operate for 114,000 hours before it needs to be replaced. The company closed its books on December 31 and operates the machine as follows: 2015, 22,800 hrs; 2016, 28,500 hrs; 2017, 17,100 hrs; 2018, 34,200 hrs; and 2019, 11,400 hrs