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. By the end of the first year, each machine had been operating 7,000 hours. Required: 1-a. Compute the cost of each machine. 1-b. Which of the following should be capitalized? (Select all that apply.) Renovation costs Installation costs Purchase costs Repair cost Depreciation costs 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.) Journal entry worksheet Record the entry for depreciation expense at the end of year 1 . Note: Enter debits before credits