At the beginning of the year, Grillo Industries bought three used machines from Freeman Incorporated. The machines immediately were overhauled, were installed, and started operating. Because the machines were different, each was recorded separately in the accounts. Machine A Machine B Machine C 20 Cost of the asset Installation costs Renovation costs prior to use Repairs after production began $9,800 950 750 500 $22,800 $39,000 2,90e 2,500 900 2,9e0 3,000 1,500 points eBook By the end of the first year, each machine had been operating 8,000 hours Required 1. Compute the cost of each machine Print 2. Prepare the journal entry to record depreciation expense at the end of year 1, assuming the following Estimates Machine Life 5 years Residual Value Depreciation Method $1,800 1,400 2,200 Straight-line Units-of-production Double-declining-balance 20,000 hours 18 years Complete this question by entering your answers in the tabs below. Required 1Required 2 Compute the cost of each machine Cost of Machine Machine A