25. On January 1 , Year 1 , X Company purchased a machine for $32,000. The company paid shipping expenses of $200, sales tax of $3,000, and as well as installation costs of $1,000. The company estimated the machine would have a useful life of 4 years and an estimated salvage value of $4,000. If the company records depreciation using the straight-line method, depreciation expense for Year 3 is 26. XYZ Company purchased equipment on January 1,2016 , for $200,000. The equipment has a value of $20,000 and has an expected useful life of 8 years. On December 31,2020, what is the balance of the accumulated depreciation account