Sandhill Company purchased a new machine on October 1,2024 , at a cost of $147,000. The company estimated that the machine will have a residual value of $11,100. The machine is expected to be used for 10,000 working hours during its 5 -year life. Sandhill Company's year-end is December 31. Calculate the depreciation expense under the straight-line method for 2024. 2024 Depreciation expense $