Wildhorse's Lumber Mill sold two machines in 2020. The following information pertains to the two machines: Purchase Useful Machine Cost Date Life Salvage Value Depreciation Method Sales Date Sold Price #1 $73,000 7/1/16 5 yrs $5,300 Straight-line 7/1/20 $14,900 #2 $53,000 7/1/19 5 yrs $4,500 Double-declining-balance 12/31/20 $30,500