9. On January 1, 2015, Acme Co purchased a machine for $30,000,000. The company expects to use the machine for 24,000 hours over the next 6 years. The estimated sale value of the machine at the end of the sixth year is $40,000. The company used the machine for 3,600 hours in 2015 and 5,000 hours in 2016. What is the book value of the machine at the end of year 2016 if the company uses double-declining-balance method of depreciation?

10. ABC Corp. purchased equipment for $45,000. The company recorded total depreciation of $36,000 on the equipment. On January 1, 2015, ABC traded in the equipment for new equipment, paying $65,000 cash. The fair market value of the new equipment is $65,000. Show the journal entry for the company's exchange of equipment.