2. XYZ Company bought a new printing machine on 1 January 20x0. The cost of the machine was $80,000. The installation costs were $6,000, the delivery expenses of $2,000 and professional fees were $1,000. What should be the net book value on 31 December 20x1, if the salvage value is $3,000 and useful life is 10 years and the company uses declining balance method (20% rate)? (2.5 points)