Sabel Company purchased assembly equipment for $364,000 on January 1, Year 1. Sabel's financial condition immediately prior to the purchase is shown in Required B. The equipment is expected to have a useful life of 280,000 machine hours and a salvage value of $28,000. Actual machine-hour use was as follows. Year 1 74,000 Year 2 89,000 Year 3 50,000 Year 4 54,000 Year 5 18,000 Required Compute the depreciation for each of the five years, assuming the use of units-of-production depreciation. Assume that Sabel earns $238,000 of cash revenue during Year 1. Record the purchase of the equipment and the recognition of the revenue and the depreciation expense for the first year in a horizontal statements model. Assume that Sabel sold the equipment at the end of the fifth year for $29,400. Record the general journal entry for the sale