A machine cost $$600,000$ on November $1,2022.$ Its estimated salvage value is $$60,000$

and its expected life is five years.

Instructions:

Calculate the depreciation expense $($to the nearest dollar$)$ by each of the following methods,

For the years $2022$ and $2023.$

$($a$)$ Straight$-$line

$($b$)$ Double$-$declining balance

$($c$)$ Sum$-$of$-$the$-$years'$-$digits