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Use the following information to answer the question. On 5/1/X3, Kaitlyn Company purchased a new machine for $700,000 cash. The machine has an estimated useful

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Use the following information to answer the question. On 5/1/X3, Kaitlyn Company purchased a new machine for $700,000 cash. The machine has an estimated useful production of 200,000 units, an estimated useful life of 7 years, and an expected salvage value of $19,000. The machine produced 45,000 units in 20x3 and 53,000 units in 20x4. Under the straight line method of depreciation, what is the depreciation expense for 20x3? (Round to the nearest dollar)

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