Based on what you have learned in chapter 8, you would need to complete the following assignment. Please note that any incomplete work will automatically receive zero points Problem 1: On January 1, 2014, Xanadu Company purchased the following two machines for use in its production process. Machine A: The cash price of this machine was $55,000. Related expenditures included: sales tax $2.750, shipping costs $100, insurance during shipping $75, installation and testing costs $75, and $90 of oil and lubricants to be used with the machinery during its first year of operation. Xanadu estimates that the useful life of the machine is 4 years with a $5.000 salvage value remaining at the end of that time period. Machine B: The recorded cost of this machine was $100,000. Xanadu estimates that the useful life of the machine is 4 years with a $10,000 salvage value remaining at the end of that time period. Instructions (a) Prepare the following: 80 aoo a FS F6 F7 F8 F9 FYO