Maria Young is the sole stockholder of Purl of Great Price Company (POGP Company), which produces high-end knitted sweaters and sweater vests for sale to retail outlets. The company started in January of the curent year and employs three knitters (each of whiom work 40 nours per week) and one office managerikntting supervisor this employee works 20 hours per week as ofmice manager, and 20 hours per week as knitting supervison) All wages are paid in cash at the end of each month. Each knitter has a knitting machine that is used about 2/3 of the kniters time, the rest of the knitter's time being involved in hand knitting and piecing together the garments. The company also has a packaging machine used to wrap the garments in plastic for shipping, which is operated by the office manager/knitting supervisor approximately 5 hours per week The knitting machines were purchased on January 1 of the current year, and cost $2,400 each, with an anticipated useful life of 10 years and no salvage value. The packaging machine was purchased on the same date and cost $4,800, with the same anticipated useful life and salvage value Maria Young is the sole stockholder of Purl of Great Price Company (POGP Company), which produces high-end knitted sweaters and sweater vests for sale to retail outlets. The company started in January of the curent year and employs three knitters (each of whiom work 40 nours per week) and one office managerikntting supervisor this employee works 20 hours per week as ofmice manager, and 20 hours per week as knitting supervison) All wages are paid in cash at the end of each month. Each knitter has a knitting machine that is used about 2/3 of the kniters time, the rest of the knitter's time being involved in hand knitting and piecing together the garments. The company also has a packaging machine used to wrap the garments in plastic for shipping, which is operated by the office manager/knitting supervisor approximately 5 hours per week The knitting machines were purchased on January 1 of the current year, and cost $2,400 each, with an anticipated useful life of 10 years and no salvage value. The packaging machine was purchased on the same date and cost $4,800, with the same anticipated useful life and salvage value