A new machine costing $1,800,000 cash and estimated to have a $60,000 salvage value was purchased on January 1. The machine is expected to produce 600,000 units of product during its 8-year useful life. Calculate the depreciation expense in the first year under the following independent situations:
1. The company uses the units-of-production method and the machine produces 70,000 units of product during its first year.
2. The company uses the double-declining-balance method.
3. The company uses the straight-line method.

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The Answer of A new machine costing $1,800,000 cash and estimated to have a $60,000 salvage value was purchased on January 1. The machine is expected to produce 600,000 units of product during its 8-year useful life. Calculate the depreciation expense in the first year under the following independent situations:
1. The company uses the units-of-production method and the machine produces 70,000 units of product during its first year.
2. The company uses the double-declining-balance method.
3. The company uses the straight-line method.

A New Machine Costing $1,800,000 Cash and Estimated to Have