Question 7 (2.84 points) Listen Quigley, Inc. purchased a machine 2 years ago for $600,000. The machine is being depreciated on a straight-line basis to a salvage value of $200,000 over its estimated useful life of 8 years. What is the annual depreciation expense on this machine? $1,000,000 $900,000 $80,000 $700,000 $70,000 $60,000 $800,000 $50,000 None of the other answers in this list are correct.