Question 15 1.8 pts 15. Machinery is purchased on January 1 of the current fiscal year for $500,000. It is expected to have a useful life of five years, or 25,000 operating hours, and a residual value of $40,000. Calculate the depreciation expense for the first full year using the straight-line depreciation method. $92,000 $50,000 $108,000 $100,000