Tye-Dye Company acquired machinery on Sept 1, 2023, for $1,410,000. The machinery's estimated useful life is 5 years, and the estimated residual value is $124,000. The company estimates that the machine will produce 155,000 units of product during its life. During 2023, the machine produced 14,400 units of product. Required: (2 points each) 1. Determine the 2023 depreciation using Straight-line Depreciation Method