Assuming Fuller Company purchases machinery for $$100,000$ on $\frac{1}{1}\frac{?}{2016},$ incurs an additional $$15,000$ in costs for trial runs $($testing$),$ pays $$18,000$ for transit insurance $($insurance during shipping$),$ and spends $$17,000$ on machine installation. The salvage value is $$35,000,$ and the useful life is $5$ years.

$1-$ Calculate the cost of the new machine and journalize the purchase entry. $2-$ Calculate the depreciation expense for all years using the straight$-$line method.