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1. On January 2, Apple Company purchases factory machine at a cash price of $60,000. Related expenditures are sales taxes $2,000, Insurance after the installation

1. On January 2, Apple Company purchases factory machine at a cash price of $60,000. Related expenditures are sales taxes $2,000, Insurance after the installation is $200, Installation and testing $1,000, Salvage value is $1,000. Useful life of the machine is 5 years. f-Calculate the book value of the machine at the end of the 3rd year? a. $38,000 b. $25,800 c. $38,200

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