Taylor Trike purchased equipment for underwater welding. The equipment cost $425,000 on January 1, 2022 and a residual value of $35000, with a useful life of 5 years. In 2023, Taylor has a gross profit of $810,000 and operating expenses of $372,000. Taylor Trike has a tax rate of 38%. Required: Compute the Depreciation Expense for 2023 under both the straight-line and double-declining balance depreciation methods. 

What is the change in net income if the accelerated depreciation method is used in 2023?