Question 19 5 pts On January 1, 20X1 Krilynn PLC, the leading manufacturer of biodegradable building blocks (duplos) in Oklahoma, purchases a new machine for $2 Million. Krilynn uses straight-line depreciation for financial reporting purposes. Depreciation for tax purposes is calculated using the double declining balance method. The useful life for both GAAP and tax purposes is 4 years. The salvage value of the machine is anticipated to be $150,000. A full year of depreciation is taken for both GAAP and tax purposes. The tax rate is 21%. What is the GAAP Depreciation expense using the straight line method in year 1? $500,000 $462,500 $1,000,000 $850,000