Question 3 (14 marks) A company hased a machine on January 1 of the current year for $750,000. Calculate the annual depreciation expense for each year of the machine's life (estimated at 5 years or 20,000 hours, with a residual value of $75,000). During the machine's 5-year life its hourly usage was: 3,000; 4,000; 5,000; 5,000; and 3,000 hours. Year Straight-Line Units-of-Production Double-Declining-Balance Year 1 Year 2 Year 3 Year 4 Year 5