Crow Company purchased some of the machinery of Hare Incorporated, a bankrupt competitor, at a liquidation sale for a total cost of $16,000. Crow's cost of moving and installing the machinery totaled $2,300. The following data are available: Hare's Net Book Value List Price of Same Item If New on the Date of Sale Appraiser's Estimate of Fair Value Item Punch press Lathe Welder Required: $ 10,770 8,070 2,480 $ 17,000 10,000 5,000 $ 16,000 6,000 3,010 a. Calculate the amount that should be recorded by Crow Company as the cost of each piece of equipment. b. Which of the following alternatives should be used as the depreciable life for Crow Company's depreciation calculation? Complete this question by entering your answers in the tabs below. Required A Required B Calculate the amount that should be recorded by Crow Company as the cost of each piece of equipment. Note: Do not round intermediate calculations. Punch press Purchase Price Allocation Lathe Welder Total: Required A Requled B > Crow Company purchased some of the machinery of Hare Incorporated, a bankrupt competitor, at a liquidation sale for a total cost of $16,000. Crow's cost of moving and installing the machinery totaled $2,300. The following data are available: Item Punch press Lathe Welder Required: Hare's Net Book Value on the Date of Sale, List Price of Same Item If New Appraiser's Estimate of Fair Value $ 10,770 8,070 2,480 $ 16,000 6,000 3,010 $ 17,000 10,000 5,000 a. Calculate the amount that should be recorded by Crow Company as the cost of each piece of equipment. b. Which of the following alternatives should be used as the depreciable life for Crow Company's depreciation calculation? Complete this question by entering your answers in the tabs below. Required A Required B Which of the following alternatives should be used as the depreciable life for Crow Company's depreciation calculation? The life of a new machine. The remaining useful life to Hare Incorporated. The useful life of the asset to Crow Company. A Required B >