Hello! I'm trying to finish this up and was wondering if cost of the machine is the cost of the asset minus all of the costs and repairs?Additionally, if you could leave a formula for the residuals and life of the asset in regards to deprication I would be so grateful!

PA9-1 Computing Acquisition Cost and Recording Depreciation under Three Alternative Methods LO 9-2 LO 93] 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 $10,700 $39,900 $23,700 Machine C Cost of the asset Installation costs Renovation costs prior to use Repairs after production began 900 700 600 3,800 3,400 800 2,900 3,900 2,400 By the end of the first year, each machine had been operating 8,000 hours. Required 1. Compute the cost of each machine Cost Machine 2. Prepare the jourmal entry to record depreciation expense at the end of year 1, assuming the following:(f no entry is required for a transaction/event, sect"No Journal Entry Required" in the first account field. Do not round intermediate calculations.) Estimates Machine Life Residual Value $2,700 2,300 1,500 Depreciation Method Straight-line Units-of-production Double-declining-balance 5 years 20,000 hours 10 years View transaction list Journal entry worksheet Record the depreciation expense for the three used machines at the end of year 1 Note: Enter debits before credits Transaction General Journal Debit Credit