Kathleen Fagan ACCT 2101: Spring 2015 COUNTING Chapter 8 HW instructions help save & exit submit assignment estions 4 6 (of 7 prev next 0 Use the pop up button A to bring up the information needed to answer this question. IThe following information applies to the questions displayed belowj Onslow Co. purchases a used machine for $240,000 cash on January 2 and readies it for use the next day at an $8,000 cost. On January 3, it is installed on a required operating platform costing $1,600, and it is further readied for operations. The company predicts the machine will be used for six years and have a $28,800 salvage value. Depreciation is to be charged on a straight-line basis. On December 31, at the end of its fifth year in operations, it is disposed of