2. A machine costing $22,000 with a 5-year life and estimated salvage value of $2,000 is installed on January 1. Calculate the straight-line depreciation for the first year of the machine's life. A company owns a production machine that cost $5,000 with a salvage value of zero. The machine was just sold for $1,100. Accumulated depreciation has just been updated and accurately reflects an amount of $4,000. In good order and form record the necessary General Journal entry to dispose of the machine. The net sales for a company are $959.9 million. Its average total assets at year-end are $625.3 million. To four decimal places, calculate the Total Asset Turnover for the company