Cardwell Company purchased a machine on January 2, Year 6, a…

Cardwell Company purchased a machine on January 2, Year 6, at a cost of $1,200,000. The machine had an estimated useful life of eight years and a residual value of $120,000. Cardwell computes depreciation by the sum-of-the-years’-digits method. What amount, net of accumulated depreciation, will appear on the company’s December 31, Year 8, balance sheet for this machine?