Ivanhoe Company purchased machinery with a list price of $88000. They were given a 7% discount by the manufacturer. They paid $400 for shipping and sales tax of $4700, Ivanhoe estimates that the machinery will have a useful life of 10 years and a residual value of $25000. If Ivanhoe uses straight-line depreciation, annual depreciation will be O $8694. O $5684. O $6194. O $6152