16 points Corcoran Corporation acquired machinery & equipment on January 1, 2016. The comany paid 550,000 for the machinery & equipment. In addition the company paid 55.000 for shipping and $2,000 assembley. The company's accounting manager estimates the machinery & equipment to have a five-year useful fe and a residual value of $3.000. Question 1 On January 1, 2018, how much should Corcoran Corporation record for the cost of the machinery & equipment Question 2 Using the straight line method, what would be the yearly depreciation for the machinery went for 2018 through 20221 Questions Using the units of production method. compute depreciation for the year 2018 through 2022. The machinery equipment is expected to run for 20.000 hours in five years. 5.000 hours in 2011. 4.500 hours a 2019. 2.000 hours in 2020. 3.000 hours in 2021 and 5.500 hours in 2012 1. 2018 2.2010 3.2020 4 2021 Question 4 On December 31, 2002 the company sold the machinery count for 57000 cash come the one the depreciation method