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Piequired Information The fodowing information applves to the questions displayed below] On January 1, Year 1, Scott Company purchased a new machine for $420,000. The machine kis expected to have an eightyear He and a \$120,000 salvage value. The machine is expected to produce 1,000,000 finished products during its elghtyear Ife. Production during Year 1 was 90,000 units and during Year 2 was 130,000 units. Aecrulrect? a) Determine the amount of depreclation expense to be recorded on the machine for Year 1 and Year 2 , respectively, using Straightlne method: Peasired intormetion The folhowing informatien apples to the questions displayed below On January 1. Year 1, Scott Compary purchased a new machine for 3420,000 . The machine is expected to have an elght: On January 1, Year 1, Scott Compary purchased a new machine for 3420,000 . The thachine is expected to kave an elght year 1ffe. Production durtng Year 1 was 90,000 urits and during Year 2 was 130,000 units equirect: Determine the amount of depreclation expense to be recorded on the machine for Year 1 and Year 2 , respectively, usiry Units-ofoduction method: ote: Do not round your Intermedinte celculations. Round your answers to the nearest whole dollars. Peaulred: Ae Dulied: decliring-balance methot: Notes be not round your intermediote cakculatiens