On January 1, 2021, Anodel Inc. acquired a machine for $1,00…

On January 1, 2021, Anodel Inc. acquired a machine for $1,000,000. The estimated useful life of the asset is 5 years. The residual value at the end of 5 years is estimated to be $50,000. What is the book value of the machine at the end of 2022, if the company uses the straight-line method of depreciation?