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4. What should be the book value of the machine at the end of the Complete this question by entering your answers in the tabs Compute the acquisition cost of the machine. 4. What should be the book value of the machine at the end of the second year? Complete this question by entering your answers in the tabs below. Compute the depreciation expense to be reported for the first year. (Do not round intermediate calculat E9-3 (Algo) Determining Financial Statement Effects of an Asset Acquisition and Straight-Line Depreciation [LO 9-2, LO 9-3] O'Connor Company ordered a machine on January 1 at a purchase price of $95,000. On the date of delivery, January 2, the company paid $24,000 on the machine and signed a long-term note payable for the balance. On January 3 , it paid $1,000 for freight an the machine. On January 5 , OrConnor paid cash for installation costs relating to the machine amounting to $5,700. On December 31 (the end of the accounting period). O'Connor recorded depreciation on the mochine using the straight-line method with an estimated iseful life of 10 years and an estimated residual value of $10.200 Required: 1. Indicate the effects (accounts, amounts, and + for increase, - for decrease) of each transiction (on January 1, 2, 3, and 5) on the accounting equation. 2. Compute the acquisition cost of the machine. 3. Compute the depreciation expense to be reported for the first year. 4. What should be the book value of the machine at the end of the second year? Complete this question by entering your answers in the tabs below. Indicate the effects (accounts, amounts, and + for increase, - for decrease) of each transaction (on )anuory 1,2,3, and 5 ) on the accounting equation. (Entee any minut sign,) Indicate the effects (occounts, amounts, and + for increase, - for decrease) of each transoction (on January 1,2,3, and 5 ) on the accounting equabon. Compute the ocquisition cost of the mochine. Compute the depreciation expense to be reported for the first year. What shovid be the book value of the machine at the end of the second year? Complete this question by entering your answers in the tabs below. 4. What should be the book value of the machine at the end of the second year? Complete this question by entering your answers in the tabs below. What should be the book value of the machine at the end of the second year? (Do not round intermediate calce