Anchor Company purchased a manufacturing machine with a list price of $86,000 and received a 2% cash discount on the purchase. The machine was delivered under terms FOB shipping point, and transportation costs amounted to $2,400. Anchor paid $3,300 to have the machine installed and tested. Insurance costs to protect the asset from fire and theft amounted to $4,200 for the first year of operations. What is the cost of the machine? Multiple Choice $89,900 Latamle Co, paid $2,100,000 for a purchase that included land, building, and office furniture. An appraiser provided the following estimates of the market values of the assets if they had been purchased separately. Land, $594.000, Building, $880,000, and Office Furniture, $726,000 What is the cost that should be allocated to the land? Multiple Choice $406,620 On January 1, Year 1, Phillips Company made a basket purchase including land, a building and equipment for $1110,000. The appraised values of the assets are $78,000 for the land, $1,060,000 for the building and $232,000 for equipment. Phillips uses the double-declining-balance method for the equipment which is estimated to have a useful life of four years and a salvage value of $10,000. What is the depreciation expense for the equipment for Year 17 (Round your intermediate calculations and final answer to the nearest whole dollar amount. Round your intermediate percentages to four decimal places: le .054231=5.42%.) Multiple Choice $195.000