3. On January 1, 2019 Baylee Company purchased machinery costing $90,000 cash. The estimated usefu life is 6 years and the estimated salvage value is $8,000. Estimated machine hours are 50,000. a. Journalize the purchase b. Determine the depreciation rate per machine hour c. Calculate annual depreciation for year 1 and year 2 if machine hours are 10,000 and 8,000 respectively. d. What is the book value of the asset at the end of year 2