The Cardwell Company purchased a machine on January 2, 2016, at a cost of $1,200,000. The machine had an estimated useful life of eight years and a residual value of $120,000. Cardwell computes depreciation by the sum-of-the-years'- digits method. What amount, net of accumulated depreciation will appear on the company's December 31, 2018, balance sheet for this machine? $1,080,000 $570,000 $805,094 X $630,000