At the beginning of the year, CCZ Corporation bought three used machines from Pequita Compression Incorporated. The machines Immediately were overhauled, installed, and started operating. Because the machines were different from each other, each was recorded separately in the accounts. Cost of the asset Installation costs Renovation costs prior to use. Repairs after production began. Machine A $10,120 Machine B $31,980 Machine C $22,600 1,660 2,160 860 660 560 1,460 460 1,660 760 By the end of the first year, each machine had been operating 7,600 hours. Required: 1-a. Compute the cost of each machine. A Machine B C Total Total cost $ 12.440 S 35,600 $ 26,420 5 74,460 2. Prepare the journal entry to record depreciation expense at the end of year 1, assuming the following: (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) Estimates Machine Life Residual Depreciation Method Value 4 years $1,000 Straight-line 33,600 hours 2,000 5 years 1,400 Units-of-production Double-declining-balance View transaction list Journal entry worksheet A Record the entry for depreciation expense at the end of year 1. >