4: (10 marks) ALPHA Company purchased equipment on 1/1/N with an invoice price of $80,000. Purchase taxes $16,000. Other costs incurred were freight costs, $1,100; installation wiring and foundation, $2,200; material and labor costs in testing the factory is, equipment, $700; fire insurance policy for $1,400. The equipment is estimated to have a $5,000 salvage value at the end of its 5-year useful service life. Required: (a) (b) Compute the acquisition cost of the equipment. (2 marks) (5 marks) If the double-declining-balance method of depreciation was used for the machine, prepare the depreciation schedule for the full period. (c) Based on which criteria companies choose the depreciation methods for their depreciable assets? Answer: (a) (2 marks)