Scott Company purchased a new machine on January 1, 2016, at a cost of $220,000. The machine is expected to have an eight-year life and a $20,000 salvage value. The machine is expected to produce 800,000 finished products during its eight-year life. Production during 2016 was 70,000 units and during 2017 was 110,000 units. Required: Determine the amount of depreciation expense to be recorded on the machine for the years 2016 and 2017 under each of the following methods: 1) Straight-line 2) Units of production 3) Double-declining balance