Coconut Plantations Pty Ltd purchased machinery for its manufacturing process on 1 March 2019. The machinery cost $900000. Coconut Plantations Pty Ltd estimates that the machinery has a useful life of five years and will have a $75000 residual value. Using straight-line depreciation, estimate the depreciation expense to be recorded in the statement of profit or loss for the year in which the machine was purchased and the subsequent year, assuming Coconut Plantations Pty Ltd’s reporting period ends on 31 December.