Champion Contractors completed the following transactions and events involving the purchase and operation of equipment in its business 2016 Jan. Paid $266,000 cash plus $10,640 in sales tax and $1,800 in transportation (FOB shipping point) for a new loader. The loader is estimated t?have a four-year life and a $26,600 salvage value. Loader c sts are recorded in the Egquipment account. Jan. 3 Paid $3,000 to enclose the cab and install air conditioning in the loader to enable operations under harsher conditions. This increased the estimated salvage value of the loader by another $900 Dec. 31 Recorded annual straight-line depreciation on the loader. 2017 Jan. 1 Paid $4,800 to overhaul the loader' s engine, which increased the loader' s estimated useful life by two years Feb. 17 Paid $1,200 to repair the loader after the operator backed it into a tree. Dec. 31 Recorded annual straight-line depreciation on the loader. Required Prepare journal entries to record these transactions and events