Sheridan Company purchased a machine on July 1, 2020, for $1080000. The machine has an estimated useful life of five years and a salvage value of $194000. The machine is being depreciated from the date of acquisition by the 150% declining-balance method. For the year ended December 31, 2020, Sheridan should record depreciation expense on this machine of $132900. $216000. O $324000. O $162000